{"id":1009607,"date":"2026-10-13T11:05:13","date_gmt":"2026-10-13T15:05:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/"},"modified":"2026-10-13T11:05:13","modified_gmt":"2026-10-13T15:05:13","slug":"pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/","title":{"rendered":"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Maroussi, Greece \u2013 October 13, 2026 \u2013 Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the \u201cCompany\u201d or \u201cPyxis\u201d), an international shipping company, today announced that it has entered into an agreement to acquire the remaining 40% non-controlling interest in the entity that owns the <i>Ormi<\/i>, a 2016-built, Japanese-built, scrubber-fitted 63,250 dwt Ultramax dry bulk vessel. The transaction is expected to be immediately accretive and, upon closing, will result in Pyxis owning 100% of the vessel-owning entity and further simplify the Company\u2019s ownership structure.<\/p>\n<p align=\"justify\">The <i>Ormi<\/i> was acquired in October 2023 from an unaffiliated third party for $28.5 million. Pyxis acquired a 60% controlling interest, while the remaining 40% was acquired by a company related to Pyxis\u2019 Chairman and Chief Executive Officer, Mr. Eddie Valentis, whose participation provided additional capital support and allowed Pyxis to preserve liquidity and financial flexibility at the time.<\/p>\n<p align=\"justify\">The Ormi has recently been appraised by three recognized international shipbrokers, each acting independently, at an average value of approximately $32.08 million, with a range of less than 1% among the three appraisals. After $15.0 million of vessel-related debt, the implied net appraised equity value is approximately $17.08 million, of which 40% corresponds to $6.83 million.<\/p>\n<p align=\"justify\">Under the transaction, Pyxis has agreed to acquire the remaining 40% interest for the seller\u2019s share of the vessel\u2019s net appraised equity value. Working capital will be determined as of the completion of the vessel\u2019s most recent voyage and settled separately at closing.<\/p>\n<p align=\"justify\">Based on the Company\u2019s current operating assumptions and prevailing dry bulk market conditions, Pyxis expects the transaction to be immediately accretive to earnings and free cash flow. The acquisition will also further simplify the Company\u2019s ownership structure by eliminating the affiliated non-controlling interest in the <i>Ormi<\/i> vessel-owning entity.<\/p>\n<p align=\"justify\">Because Pyxis already consolidates the vessel-owning entity, the <i>Ormi<\/i> and its related debt are already reflected in the Company\u2019s consolidated financial statements. Accordingly, the transaction will not result in any incremental vessel debt on the Company\u2019s consolidated balance sheet. No acquisition fee or other material transaction fee will be paid in connection with the transaction, other than customary legal and administrative expenses.<\/p>\n<p align=\"justify\">Because the acquisition involves an entity related to the Company\u2019s Chairman and Chief Executive Officer, the transaction was reviewed and approved solely by the independent members of the Board of Directors, who considered, among other things, the three independent vessel appraisals and the financial terms of the transaction.<\/p>\n<p align=\"justify\">The acquisition is expected to close within October, 2026, following the satisfaction of customary closing conditions.<\/p>\n<p align=\"justify\">\n        <b>Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers, commented:<\/b>\n      <\/p>\n<p align=\"justify\">\u201cWhen we acquired the Ormi in October 2023, the participation of an affiliated entity provided additional capital support that allowed Pyxis to complete an attractive acquisition while preserving liquidity and financial flexibility. Since then, we have substantially strengthened our balance sheet and liquidity position.<\/p>\n<p align=\"justify\">\u201cAcquiring the remaining interest is a logical next step. The vessel-equity component of the consideration is supported by three independent appraisals from recognized international shipbrokers. The transaction is expected to be immediately accretive under prevailing dry bulk market conditions and our current operating assumptions, and it will further simplify our corporate structure while providing Pyxis with 100% economic ownership of the <i>Ormi<\/i>, a high-quality, Japanese-built, scrubber-fitted Ultramax vessel.\u201d<\/p>\n<p align=\"justify\">\n        <b>Investor Presentation <\/b>\n      <\/p>\n<p align=\"justify\">Additional information regarding the transaction, including the valuation framework, illustrative financial impact and accretion sensitivities, is available in the accompanying investor presentation on the Company\u2019s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3U4YuWW7aUkNBkwaA6qtBaRNC10FZP07_SlXJiI300CqQp5nkCXC6dtLrC8nMr47h2JwlbTCsUsU9qU9LuZ9J8Rlkp68cZLFfYC8a2Djy7A=\" rel=\"nofollow\" target=\"_blank\">www.pyxistankers.com<\/a>.<\/p>\n<p align=\"justify\">\n        <b>About Pyxis Tankers Inc.<\/b>\n      <\/p>\n<p align=\"justify\">Pyxis Tankers Inc. is an international shipping company focused on the seaborne transportation of refined petroleum products and dry bulk commodities. The Company seeks to create long-term shareholder value through disciplined capital allocation, prudent financial management and opportunistic investments across the shipping cycle.<\/p>\n<p align=\"justify\">\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, without limitation, statements regarding the Company\u2019s expectations, objectives, plans, strategies, future events or performance, vessel employment, market conditions, geopolitical developments, shipping market fundamentals and other statements that are not historical facts. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.<\/p>\n<p>\n        <b>Company <\/b><br \/>\n        <br \/>Pyxis Tankers Inc. <br \/>59 K. Karamanli Street Maroussi, 15125 Greece<\/p>\n<p>Visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=53Ythm2nqhCTYlti1MV-fqzU8ZKZQD_NOTme-jhxfuHFXiWnwEH858VE4CaJw5iVktzJHYuyfyE7byNY79Ev5p4RSAeZm-gfljVx-Z8xhhZZfNj3UzHOntOsbUDyM6Lf\" rel=\"nofollow\" target=\"_blank\">https:\/\/www.pyxistankers.com<\/a><\/p>\n<p>\n        <b>Company Contact<\/b><br \/>\n        <br \/>Fotis Giannakoulis <br \/>Chief Financial Officer <br \/>Tel: +1 917 291 7142 \/ +30 (210) 638 0200\u00a0\u00a0<\/p>\n<p>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mwV-igxqk31WFrFhQGQ1g9AWtUg1I94COblXhSHjsAExTWitUcwJI1wJgCPuLty2YP2gjJyHn1drTx_ERq7GzVOjDSSgrbtsoFEPLLUn4f4=\" rel=\"nofollow\" target=\"_blank\">ir@pyxistankers.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMTI3NzU1MyM0MDI1MjYzMzUjMjAyNjA3NA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/ZTU2N2JiMmYtNjY2Yi00NGE4LWE0NDItODJmMmZiZmZlYjQxLTEwMzc2NDYtMjAyNi0xMC0xMy1lbg==\/tiny\/Pyxis-Tankers-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Maroussi, Greece \u2013 October 13, 2026 \u2013 Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the \u201cCompany\u201d or \u201cPyxis\u201d), an international shipping company, today announced that it has entered into an agreement to acquire the remaining 40% non-controlling interest in the entity that owns the Ormi, a 2016-built, Japanese-built, scrubber-fitted 63,250 dwt Ultramax dry bulk vessel. The transaction is expected to be immediately accretive and, upon closing, will result in Pyxis owning 100% of the vessel-owning entity and further simplify the Company\u2019s ownership structure. The Ormi was acquired in October 2023 from an unaffiliated third party for $28.5 million. Pyxis acquired a 60% controlling interest, while the remaining 40% was acquired by a company related to Pyxis\u2019 Chairman and Chief Executive &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1009607","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Maroussi, Greece \u2013 October 13, 2026 \u2013 Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the \u201cCompany\u201d or \u201cPyxis\u201d), an international shipping company, today announced that it has entered into an agreement to acquire the remaining 40% non-controlling interest in the entity that owns the Ormi, a 2016-built, Japanese-built, scrubber-fitted 63,250 dwt Ultramax dry bulk vessel. The transaction is expected to be immediately accretive and, upon closing, will result in Pyxis owning 100% of the vessel-owning entity and further simplify the Company\u2019s ownership structure. The Ormi was acquired in October 2023 from an unaffiliated third party for $28.5 million. Pyxis acquired a 60% controlling interest, while the remaining 40% was acquired by a company related to Pyxis\u2019 Chairman and Chief Executive &hellip; Continue reading &quot;Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-13T15:05:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMTI3NzU1MyM0MDI1MjYzMzUjMjAyNjA3NA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure\",\"datePublished\":\"2026-10-13T15:05:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/\"},\"wordCount\":759,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMTI3NzU1MyM0MDI1MjYzMzUjMjAyNjA3NA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\\\/\",\"name\":\"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/","og_locale":"en_US","og_type":"article","og_title":"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure - Market Newsdesk","og_description":"Maroussi, Greece \u2013 October 13, 2026 \u2013 Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the \u201cCompany\u201d or \u201cPyxis\u201d), an international shipping company, today announced that it has entered into an agreement to acquire the remaining 40% non-controlling interest in the entity that owns the Ormi, a 2016-built, Japanese-built, scrubber-fitted 63,250 dwt Ultramax dry bulk vessel. The transaction is expected to be immediately accretive and, upon closing, will result in Pyxis owning 100% of the vessel-owning entity and further simplify the Company\u2019s ownership structure. The Ormi was acquired in October 2023 from an unaffiliated third party for $28.5 million. Pyxis acquired a 60% controlling interest, while the remaining 40% was acquired by a company related to Pyxis\u2019 Chairman and Chief Executive &hellip; Continue reading \"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/","og_site_name":"Market Newsdesk","article_published_time":"2026-10-13T15:05:13+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMTI3NzU1MyM0MDI1MjYzMzUjMjAyNjA3NA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure","datePublished":"2026-10-13T15:05:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/"},"wordCount":759,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMTI3NzU1MyM0MDI1MjYzMzUjMjAyNjA3NA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pyxis-tankers-announces-acquisition-of-remaining-40-interest-in-ultramax-dry-bulk-vessel-ormi-transaction-expected-to-be-immediately-accretive-and-further-simplify-ownership-structur\/","name":"Pyxis Tankers Announces Acquisition of Remaining 40% Interest in Ultramax Dry Bulk Vessel \u201cOrmi\u201d Transaction Expected to Be Immediately Accretive and Further Simplify Ownership Structure - 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