Benzinga | Dec 21, 2021 07:37AM EST

Pyxis Tankers Announces Delivery Of 2017 Built MR Product Tanker & Completion Of Debt Financings

Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS) (the "Company" or "Pyxis Tankers"), an international pure play product tanker company, announced today that pursuant to a previously announced transaction, onPyxis Tankers Inc. (NASDAQ Cap Mkts: PXS) (the "Company" or "Pyxis Tankers"), an international pure play product tanker company, announced today that pursuant to a previously announced transaction, on December 20, 2021, the Company took delivery of the Pyxis Lamda, a 50,296 dwt medium range product tanker built in 2017 at SPP Shipbuilding in South Korea. The Pyxis Lamda was acquired from an entity related to the family of our Company's Chairman and Chief Executive Officer, for a purchase price of $32 million (the "Lamda Acquisition"). After her first special survey, the Pyxis Lamda will seek commercial employment in early January, 2022.

On December 20th, the Company also entered into a new $29 million senior loan facility, under which borrowings of (i) $21.68 million were used to finance a portion of the purchase price of Lamda Acquisiton and (ii) $7.32 million were used to refinance the Company's existing indebtedness secured by the Pyxis Malou.

For additional details about the Lamda Acquisition or the Company's new $29 million senior bank facility, please see the Company's press release dated November 15, 2021, entitled "Pyxis Tankers Announces Financial Results for the Three and Nine Months Ended September 30, 2021 & the Acquisition of 2017 Built MR Product Tanker" that was filed with the U.S. Securities and Exchange Commission as an exhibit to the Company's Form 6-K on November 18, 2021.