Pyxis Tankers Regains Compliance with Nasdaq’s Minimum Bid Price Rule & Provides Chartering Update
Maroussi, Greece, May perhaps 31, 2022 – Pyxis Tankers Inc. (NASDAQ CM: PXS) (the “Firm”), an intercontinental pure perform products tanker corporation, declared that it has regained compliance with the bare minimum bid cost necessity under the continued listing demands of the Nasdaq Inventory Current market (“Nasdaq”).
On Might 27, 2022, the Organization been given a prepared notification from Nasdaq’s Listing Skills Division stating that the closing bid value of the Company’s popular shares has been $1.00 for every share or increased for ten consecutive investing days, from May possibly 13, 2022 to May possibly 26, 2022. Accordingly, the Corporation has regained compliance with the exchange’s least bid cost rule (Nasdaq Market Rule 5550(a)(2)).
Independently, the Business continued its blended chartering system with a few of its medium range merchandise tankers (“MR tankers”) used in the spot market and two of its MR tankers used under quick-term time charters. Chartering conditions remain strong, and as of Could 30, 2022, approximately 77% of the Company’s available days in next quarter of 2022 ended up booked for the Company’s MR tankers at an regular believed each day Time Constitution Equal price of around $27,500.
About Pyxis Tankers Inc.
The Business at this time owns a contemporary fleet of five MR tankers engaged in seaborne transportation of refined petroleum items and other bulk liquids. The Corporation is centered on escalating its fleet of medium range product tankers, which give operational flexibility and enhanced earnings prospective due to their “eco” capabilities and modifications. The Organization is positioned to opportunistically develop and increase its fleet thanks to competitive cost framework, powerful shopper interactions and an skilled management workforce whose passions are aligned with people of its shareholders. For a lot more details, pay a visit to: http://www.pyxistankers.com. The Company’s website and the facts contained therein are not included into and do not sort a aspect of this launch.
Ahead Wanting Statements
This push launch contains “forward-hunting statements” meant to qualify for the risk-free harbor from legal responsibility recognized by the Non-public Securities Litigation Reform Act of 1995 in purchase to persuade organizations to provide possible information about their company. These statements consist of statements about the Company’s ideas, approaches, plans economic general performance, potential clients or upcoming situations or general performance and entail acknowledged and unidentified threats that are tricky to forecast. As a end result, the Company’s true outcomes, performance or achievements may perhaps differ materially from these expressed or implied by these ahead-looking statements. In some conditions, you can establish ahead-seeking statements by the use of phrases these as “may,” “could,” “expects,” “seeks,” “predict,” “schedule,” “projects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “targets,” “continue,” “contemplate,” “possible,” “likely,” “might,” “will,” “should,” “would,” “potential,” and variants of these conditions and related expressions, or the damaging of these conditions or comparable expressions. All statements that are not statements of both historic or current facts, together with amid other matters, the Company’s expected monetary functionality, expectations or targets with regards to long term and market constitution price expectations and, in individual, the effects of COVID-19 or any variant thereof, or the war in the Ukraine, on the Company’s fiscal affliction and functions and the product or service tanker marketplace, in basic, are ahead-wanting statements. Such ahead-looking statements are automatically centered upon estimates and assumptions. Although the Firm thinks that these assumptions ended up acceptable when designed, mainly because these assumptions are inherently subject to major uncertainties and contingencies which are challenging or extremely hard to predict and are beyond the Company’s manage, the Business are not able to guarantee you that it will accomplish or achieve these expectations, beliefs or projections. The Company’s precise effects could vary, possibly materially, from those people expected in these ahead-looking statements as a result of sure elements, together with variations in the Company’s money assets and operational capabilities and as a final result of certain other aspects detailed from time to time in the Company’s filings with the U.S. Securities and Exchange Fee. For extra facts about risks and uncertainties associated with the Company’s small business, remember to refer to the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), together with with no limitation, underneath the caption “Risk Factors” in our Yearly Report on Kind 20-F for the fiscal calendar year ended December 31, 2021 and the Company’s other filings with the SEC. We warning you not to spot undue reliance on any forward-wanting statements, which are created as of the day of this press launch. The Firm undertakes no obligation to update publicly any facts in this press launch, including forward-searching statements, to reflect precise outcomes, new information or foreseeable future occasions, changes in assumptions or modifications in other factors influencing ahead-seeking statements, other than to the extent essential by applicable regulations.
Enterprise
Pyxis Tankers Inc.
59 K. Karamanli Street
Maroussi 15125 Greece
[email protected]
Visit the Company’s website at www.pyxistankers.com
Business Call
Henry Williams
Main Monetary Officer
Tel: +30 (210) 638 0200 / +1 (516) 455-0106
Email: [email protected]
Source: Pyxis Tankers Inc.
