Perma-Fix reports proposed offering of stock

Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) has announced a public offering of 2,200,000 shares of its common stock at a price of $10.00 per share, generating approximately $22 million in gross proceeds before underwriting discounts and expenses according to the announcement. The offering, underwritten by Craig-Hallum and advised by Wellington Shields, is expected to close on or about December 19, 2024, subject to customary closing conditions as reported. The company has also granted the underwriter a 30-day option to purchase up to 330,000 additional shares.

Perma-Fix plans to use the net proceeds to advance its patent-pending Perma-FAS process for the destruction of PFAS, including the installation of a second-generation commercial treatment unit. Additional funds will support ongoing facility capital expenditures, maintenance costs, and general corporate and working capital needs as stated in the announcement.

This offering is being conducted under a shelf registration statement on Form S-3, declared effective by the SEC on December 12, 2024. The final prospectus supplement and accompanying prospectus will be available on the SEC’s website and from Craig-Hallum Capital Group LLC according to the announcement.

Perma-Fix, a nuclear services company, specializes in the management and treatment of radioactive and mixed waste for federal agencies and commercial clients. The company operates four nuclear waste treatment facilities and provides services across the U.S. as detailed in the company's profile.