Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international pure-play product tanker company, today announced that it has completed the sale of the Pyxis Malou, a 2009 built 50,667 dwt product tanker, for the aggregate sale price of $24.8 million.
After repayment of vessel’s bank debt and related transaction costs, the Company received aggregate net cash proceeds of approximately $18.9 million.
The sale of the oldest vessel in the fleet will further increase our liquidity, reduce outstanding debt and position the Company for additional corporate opportunities.