Pyxis Tankers Announces Joint Venture Agreement to Acquire Modern Dry-Bulk Vessel, Expansion of Common Share Repurchase Program & Partial Redemption of Series A Cumulative Convertible Preferred Stock
The Board also approved the Company’s redemption of 100,000 shares of our Series A Cumulative Convertible Preferred Stock (the “Preferred Shares”) (NASDAQ Cap Mkts: PXSAP).
- The Board also approved the Company’s redemption of 100,000 shares of our Series A Cumulative Convertible Preferred Stock (the “Preferred Shares”) (NASDAQ Cap Mkts: PXSAP).
- A redemption date of June 20, 2024 (the “Redemption Date”) has been established and the Preferred shareholders who have been selected for the redemption will be notified.
- After this partial redemption, there will be 303,631 PXSAP shares outstanding, which are convertible into 1,354,204 common shares, if fully converted, a reduction of 446,429 in fully-diluted common shares.
- Mr. Eddie Valentis, Chairman and Chief Executive Officer of the Company, commented: “Secondhand values for modern eco-efficient product tankers continue to appreciate unabated.