Pyxis given the okay by NASDAQ
Pyxis Tankers, a Greek backed product tanker firm, has been given the green light to continue trading on the NASDAQ in New York after its shares had managed to trade above $1 for 10 consecutive days.
Commented, Henry Williams, the firm’s CFO: “We are pleased that we regained compliance so quickly with Nasdaq’s minimum closing bid price rule. We believe that the recent release of our solid results for the year end 2015 contributed to that positive result. We plan to continue to emphasise how our specific sector of shipping, product tankers, is performing significantly better than many other sectors, and that we believe that Pyxis’ operating platform is comparable to or better than many of our publicly-listed product tanker peers.”
Pyxis is owned by Valentios Valentis and has six tankers on its books. It started trading on the NASDAQ last October when merged with LookSmart, an internet search engine.