Perma-Fix Prices $20M Offering at $8.75 to Fund PFAS R&D
PESI•Perma-Fix Environmental Services has priced a 2.29 million share common stock offering at $8.75 per share, generating roughly $20 million in gross proceeds. Net proceeds will fund capacity upgrades at its Northwest Richland facility, advance its patent-pending PFAS destruction process and support corporate working capital.
1. Offering Details
Perma-Fix Environmental Services has priced an underwritten public offering of 2,285,714 common shares at $8.75 each, resulting in approximately $20.0 million in gross proceeds before underwriting discounts and expenses. The offering is slated to close on or about May 18, 2026, subject to customary closing conditions.
2. Use of Proceeds
The company intends to apply net proceeds toward capacity upgrades at its Northwest Richland facility, continued research and development of its patent-pending Perma-FAS PFAS destruction process, and general corporate and working capital requirements.
3. Underwriter Option
Craig-Hallum, acting as sole managing underwriter, has been granted a 30-day option to purchase up to 342,857 additional shares at the public offering price less the underwriting discount, potentially raising incremental capital.
4. Registration and Next Steps
This offering is being conducted under a shelf registration on Form S-3 declared effective December 12, 2024, with a final prospectus supplement to be filed prior to closing. Copies of the prospectus will be available through Craig-Hallum Capital Group LLC once filed.
