Finacity Renews USD 100 Million Trade Receivable Funding for Pyxus (OTCMKTS:PYYX); Carl L. Hausmann Steps Down from Board of Directors at Pyxus

Finacity Corporation, on June 3rd, 2022, announced about facilitating the renewal of a $100 million multi-country two-year committed trade receivables funding program for Pyxus International, Inc (OTCMKTS:PYYX).

Market Stats     

On Friday, PYYX stock fell 1.60% to $0.62 with more than 1K shares, compared to its average volume of 1.2K shares. The stock moved within a range of $0.6200 – 0.6200 after opening trading at $0.62.

Pyxus International is a client of Finacity from back in 2006 and a worldwide agricultural company. It has almost 150 years of experience in delivering value-added products and services to businesses and customers. The funding program has been renewed at substantially better pricing levels. Obligor countries include Indonesia, Korea, Hong Kong, Egypt, Morocco, UAE, Eastern European countries, EU countries, Mexico, and the USA.

Back in May 2022, Pyxus had also announced Carl L. Hausmann’s intention to retire from the Company’s Board of Directors, which would be effective from the 2022 annual shareholders meeting. He was appointed as a Director in October 2020 and serves on the Environmental, Social, Governance, and Nominating Committee as well as the Audit Committee. He has been with a company for a long time, even with Pyxus International’s predecessor (on the Board of Directors) was called Alliance One International, Inc., from June 2013 to August 2018.

The individual qualifying as an independent director to fill the seat on the Board that will be vacated by Hausmann won’t be appointed till the annual shareholders meeting in 2022.