Pyxis Tankers Inc. Announces a $4.8 Million Private Placement of Common Stock
December 06 2017 - 8:51AM
Pyxis Tankers Inc. Announces a $4.8 Million
Private Placement of Common Stock
MAROUSSI, GREECE, December 6, 2017 - Pyxis
Tankers Inc. (NASDAQ: PXS), (the "Company" or "Pyxis Tankers"), an
emerging growth pure play product tanker company, today announced
that it has entered into a definitive securities purchase agreement
with a group of investors, which will result in gross proceeds to
Pyxis Tankers of $4.8 million, before deducting placement offering
expenses. Pyxis Tankers will issue 2,400,000 shares of common stock
at a price of $2.00 per share. This private placement is expected
to close on or before December 8, 2017, subject to customary
closing conditions.
Pyxis Tankers will use the net proceeds from the
transaction for general corporate purposes, which may include the
repayment of outstanding indebtedness.
The securities offered and sold by Pyxis Tankers
in the private placement have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or state
securities laws and may not be offered or sold in the United States
absent registration with the Securities and Exchange Commission
(the "SEC") or an applicable exemption from such registration
requirements. Pyxis Tankers has agreed to file a registration
statement with the SEC covering the resale of the shares of common
stock to be issued in the private placement. Any resale of Pyxis
Tankers' shares under such resale registration statement will be
made only by means of a prospectus.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Pyxis Tankers Inc. We own a modern
fleet of six tankers engaged in seaborne transportation of refined
petroleum products and other bulk liquids. We are focused on
growing our fleet of medium range product tankers, which provide
operational flexibility and enhanced earnings potential due to
their "eco" features and modifications. We are well positioned to
opportunistically expand and maximize our fleet due to competitive
cost structure, strong customer relationships, and an experienced
management team, whose interests are aligned with those of our
shareholders. For more information, visit:
http://www.pyxistankers.com
Cautionary Statement Regarding Forward
Looking StatementsThis press release includes "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These statements include statements about the Company's
plans, strategies, financial performance, prospects or future
events, including the intended terms of the offering, closing of
the offering and the use of any proceeds from the offering, and
involve known and unknown risks that are difficult to predict. As a
result, the Company's actual results, performance or achievements
may differ materially from those expressed or implied by these
forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as "may,"
"could," "expect," "seek," "predict," "schedule," "project,"
"intend," "plan," "anticipate," "believe," "estimate," "potential,"
"outlook," "continue," "likely," "will," "would" and variations of
these terms and similar expressions, or the negative of these terms
or similar expressions. Such forward-looking statements are
necessarily based upon estimates and assumptions that, while
considered reasonable by the Company and its management team, are
inherently uncertain. A more complete description of these risks
and uncertainties can be found in the Company's filings with the
U.S. Securities and Exchange Commission, including under the
caption "Risk Factors" in the Company's Annual Report on Form 20-F
for the fiscal year ended December 31, 2016. The Company cautions
you not to place undue reliance on any forward-looking statements,
which are made as of the date of this press release. The Company
undertakes no obligation to update publicly any of these
forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable laws.
For more information:Pyxis Tankers Inc.
59 K. Karamanli Street Maroussi 15125 Greece
info@pyxistankers.comCompany ContactHenry Williams Chief Financial
Officer Tel: +30 (210) 638 0200 / +1 (516) 455-0106
Email: hwilliams@pyxistankers.com
Source: Pyxis Tankers Inc.
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