Perma-Fix Environmental Services, Inc. announced the pricing of its underwritten public offering of 2,200,000 shares of its common stock at a price of $10.00 per share. The company expects to receive gross proceeds of approximately $22 million from this offering, before deducting underwriting discounts and other estimated expenses.
In connection with the offering, Perma-Fix granted the underwriter a 30-day option to purchase up to an additional 330,000 shares of common stock at the public offering price. The offering is anticipated to close on or about December 19, 2024, subject to the satisfaction of customary closing conditions.
The net proceeds from this offering are intended to fund continued research and development and business development related to the company’s patent-pending Perma-FAS process for PFAS destruction. This includes the cost of installing at least one second-generation Perma-FAS commercial treatment unit, ongoing facility capital expenditures, maintenance costs, and general corporate and working capital purposes.
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