Pyxis Tankers Announces Loan Commitment for Potential Fleet Expansion

Company Overview - Pyxis Tankers Inc. is an international shipping company that currently owns a modern fleet of six mid-sized eco-vessels, including three MR product tankers, one Kamsarmax bulk carrier, and controlling interests in two dry-bulk joint ventures [2] - The company is engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities [2] - Pyxis Tankers is positioned to opportunistically expand its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships, and an experienced management team [2] Recent Developments - The company announced a commitment letter with an existing bank for a "hunting license" loan facility of up to $45 million to finance the potential acquisition of up to two modern vessels [1] - The loan facility can cover up to 62.5% of the vessel purchase value and can be drawn down anytime for a period of up to 18 months after closing, expected in June 2025 [1] - The average interest rate for borrowings under the facility is SOFR + 1.9%, with repayments scheduled quarterly over five years from drawdown [1]