Pyxis Tankers Inc., an international diversified shipping company, announced that on November 19, 2025, its Board of Directors authorized the repurchase of up to $3.0 million of our common shares. We believe our current share price does not reflect the value proposition of Pyxis Tankers, let alone the significant operational progress, financial performance as well as future prospects. We continue to trade at a substantial discount in relation to our peers based on standard industry valuation metrics, such as, price to net asset value.
Under this authorization, when in force and available, purchases may be made at our discretion in the form of open market repurchase programs, privately negotiated transactions, accelerated share repurchase programs or a combination of these methods during a period of up to one year. The actual amount and timing of share repurchases are subject to capital availability, our determination that share repurchases are in the best interests of our shareholders, and market conditions.
