Pyxis Tankers, an emerging growth pure play product tanker company, 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, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission 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.