Pyxis Tankers completes share repurchase program, updates chartering activity

Pyxis Tankers (PXS) announced key shareholder and chartering updates. The Company has completed its authorized expanded $3M common share repurchase program. Since summer 2023, we have acquired 730,683 common shares in the open market at an average cost of $4.03 per share, excluding commissions. As of January 29, 2025, there were 10,485,865 common shares of the Company outstanding, with a public float of approximately 4.37 million PXS shares. In 2024, the Company also redeemed all of its outstanding 7.75% Series A Cumulative Convertible Preferred Stock, which eliminated potential shareholder dilution of 1,799,871 common shares. Thus, the Company has spent approximately $13.1M, in total, for equity re-purchases in order to save potential shareholder dilution of 2.53 million common shares in aggregate or 19.4% of diluted common shares. As of January 29, 2025, 72% of available days in the first quarter, 2025 for our three eco-MR product tankers were booked at an average estimated daily time charter equivalent rate of $24,750 per vessel. As of the same date, 68% of available days in the first quarter of 2025, for our three dry-bulk vessels were booked at an average estimated daily TCE of $15,400.