Perma-Fix Announces Pricing of $22 Million Public Offering of Common Stock

Core Viewpoint - Perma-Fix Environmental Services, Inc. has announced a public offering of 2,200,000 shares of common stock at a price of $10.00 per share, expecting gross proceeds of approximately$22 million before expenses [1][2]. Group 1: Offering Details - The offering includes a 30-day option for the underwriter to purchase up to 330,000 additional shares at the public offering price [1]. - The expected closing date for the offering is around December 19, 2024, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to: - Continued research and development for the patent-pending Perma-FAS process aimed at PFAS destruction and the installation of a second-generation commercial treatment unit [2]. - Ongoing capital expenditures and maintenance costs for facilities [2]. - General corporate and working capital purposes [2]. Group 3: Underwriters and Advisors - Craig-Hallum is serving as the sole managing underwriter for the offering, while Wellington Shields is acting as the financial advisor [3]. Group 4: Company Overview - Perma-Fix is a leading provider of nuclear and mixed waste management services, including management and treatment of radioactive waste for various federal agencies and the commercial nuclear industry [6]. - The company operates four nuclear waste treatment facilities and offers a range of services including project management, environmental restoration, and radiological protection [6].