Perma-fix Environmental prices 2.2M shares at $10.00 in public offering

Perma-Fix Environmental (PESI) Services announced the pricing of its previously announced underwritten public offering of 2,200,000 shares of its common stock at a price to the public of $10.00 per share. Perma-Fix expects the gross proceeds from the offering to be approximately $22M before deducting the underwriting discount and other estimated offering expenses. In connection with the offering, Perma-Fix has granted the underwriter a 30-day option to purchase up to 330,000 additional shares of its common stock at the public offering price, less the underwriting discount. The offering is expected to close on or about December 19, 2024, subject to the satisfaction of customary closing conditions. Perma-Fix intends to use the net proceeds from the offering to fund continued R&D and business development relating to the Company’s patent-pending Perma-FAS process for the destruction of PFAS, as well as the cost of installing at least one second-generation Perma-FAS commercial treatment unit; ongoing facility cap-ex and maintenance costs; as well as general corporate and working capital purposes. Craig-Hallum is acting as sole managing underwriter for the offering. Wellington Shields is acting as financial advisor to the Company for the offering.