Pyxis Sells Two Small Tankers For $8.9M

  • Pyxis Tankers Inc PXS has agreed to sell two 2010 built 8,600 dwt product tankers, the Northsea Alpha and Northsea Beta, for $8.9 million. 
  • The company expects to complete the vessel sales between late January 2022 and late February 2022.
  • Pyxis Tankers anticipates receiving aggregate net cash proceeds of ~$2.8 million and intends to use it for working capital purposes.
  • For the fiscal year ended December 31, 2021, the company expects to recognize a non-cash loss from asset dispositions of $2.0 million.
  • "Upon completion of the dispositions, our total debt should be approximately $77.35 million at a weighted average interest rate of less than 4% per annum with the next bank loan maturity scheduled in 3.5 years," noted Chairman and CEO Valentios Valentis. 
  • Price Action: PXS shares are trading higher by 2.86% at $0.52 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksAsset SalesBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!