Pyxis Tankers to buy remaining 40% stake in Ultramax bulker Ormi
PXS•Pyxis Tankers agreed to buy the remaining 40% stake in the entity that owns the vessel Ormi, taking its ownership to 100%. The deal implies a $6.83 million purchase price, based on an average vessel valuation of $32.08 million and $15 million in vessel-related debt, and is expected to close by October 2026.
1. Deal terms
Pyxis Tankers agreed to buy the remaining 40% stake in the entity that owns the Ultramax dry bulk vessel Ormi, bringing its ownership to 100%. The purchase price is set at the seller’s share of net appraised equity value; the transaction implies $6.83 million for the stake, using an average vessel valuation of $32.08 million and $15 million of vessel-related debt. Closing is targeted within October 2026, and the transaction is expected to be immediately accretive to earnings and free cash flow.
