Perma-Fix Closes $6.2 Million Public Offering
October 04 2021 - 2:00PM
Perma-Fix Environmental Services, Inc. (NASDAQ:
PESI) (the “Company”) today announced it has closed an
underwritten public offering of 1,000,000 shares of its common
stock, at $6.20 per share. The gross proceeds to the Company from
this offering were approximately $6.2 million, before deducting
underwriting discounts and commissions and other offering expenses.
No warrants were issued in connection with the transaction.
This offering was made pursuant to a shelf
registration statement previously filed with the Securities and
Exchange Commission (the “SEC”), which became effective on May 22,
2019, and a prospectus supplement filed with the SEC on October
4th, 2021, copies of which may be obtained from the SEC’s website
at www.sec.gov.
Wellington Shields & Co. LLC acted as the
exclusive placement agent for the offering.
Perma-Fix plans to use the aggregate net
proceeds of approximately $5.8 million from the offering primarily
to fund general growth capital as well as for general corporate
purposes and working capital. Growth capital initiatives include,
but are not limited to, expansion activities and upgrades at its
four treatment facilities and related to the Test Bed
Initiative.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Perma-Fix Environmental
Services
Perma-Fix Environmental Services, Inc. is a
nuclear services company and leading provider of nuclear and mixed
waste management services. The Company's nuclear waste services
include management and treatment of radioactive and mixed waste for
hospitals, research labs and institutions, federal agencies,
including the DOE, the U.S. Department of Defense (DOD), and the
commercial nuclear industry. The Company’s nuclear services group
provides project management, waste management, environmental
restoration, decontamination and decommissioning, new build
construction, and radiological protection, safety and industrial
hygiene capability to our clients. The Company operates four
nuclear waste treatment facilities and provides nuclear services at
DOE, DOD, and commercial facilities, nationwide.
Please visit us at http://www.perma-fix.com.
This press release contains “forward-looking
statements” which are based largely on the Company's expectations
and are subject to various business risks and uncertainties,
certain of which are beyond the Company's control. Forward-looking
statements generally are identifiable by use of the words such as
“believe”, “expects”, “intends”, “anticipate”, “plan to”,
“estimates”, “projects”, and similar expressions. Forward-looking
statements include, but are not limited to: usage of net proceeds.
While the Company believes the expectations reflected in this news
release are reasonable, it can give no assurance such expectations
will prove to be correct. There are a variety of factors which
could cause future outcomes to differ materially from those
described in this release, including, without limitation, future
economic conditions; industry conditions; competitive pressures;
our ability to apply and market our new technologies; the
government or such other party to a contract granted to us fails to
abide by or comply with the contract or to deliver waste as
anticipated under the contract or terminates existing contracts;
government contracts and subcontracts relating to activities at
government sites are generally subject to terminate or renegotiate
on thirty-days’ notice at the government’s option; Congress fails
to provides funding for the DOD’s and DOE’s remediation projects;
inability to obtain new foreign and domestic remediation contracts;
impact of COVID-19; and the additional factors referred to under
“Risk Factors” and "Special Note Regarding Forward-Looking
Statements" of our 2020 Form 10-K and Form 10-Qs for quarter ended
March 31, 2021 and June 30, 2021. The Company makes no commitment
to disclose any revisions to forward-looking statements, or any
facts, events or circumstances after the date hereof that bear upon
forward-looking statements.
Please visit us on the World Wide Web at
http://www.perma-fix.com.
Contacts:David K. Waldman-US
Investor RelationsCrescendo Communications, LLC (212) 671-1021
Herbert Strauss-European Investor Relationsherbert@eu-ir.com+43
316 296 316
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