Pyxis Tankers Inc. (NASDAQ: PXS) share went down 32.81% during the trading session of Wednesday. The weak performance of the firm highlighted the negative sentiments of the investors after it declared that it has signed a securities purchase deal with institutional investors.
The firm will grant 14,285,715 shares of common stock at a price of $1.75 per share. This private arrangement is anticipated to finalize on or before February 19, 2021 and is dependent on regular sealing settings. It has been disclosed that Pyxis Tankers will receive a profit of $25 million from the offering before subtracting the expenditures of private settlement.
Shares of Pyxis Tankers Inc. (NASDAQ: PXS) lost -0.96 at $2.00 during the trading session of Wednesday. In the past 52-weeks of trading, this firm's share fluctuated between the low range of $0.62 and a high range of $4.60. Its shares surged 197.81% from its 52-week low and moved down -59.78% from its 52-week high.
Eyeing at its profitability, it as Return on Investment, Equity, and Assets is -2.70%, -19.80%, and -6.20%, respectively. Its Gross Margin is 35.60%, Profit Margin is 211.50% and Operating Margin is -1.00%. Turning our focus on its liquidity, it has a current ratio of 0.50 and a quick ratio is also 0.40. PXS market cap has stayed high, reaching $54.76 million at the time of writing.
Pyxis disclosed that it is intending to use the profit for the settlement of due obligation and possible vessel purchases. Moreover, the securities presented and sold by Pyxis Tankers in the private settlement have not been listed under the Securities Act of 1933. Pyxis Tankers has decided to file a registration declaration with the SEC including the resale of the shares of common stock to be granted in the private settlement.