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Perma-Fix Environmental Services (Nasdaq: PESI) announced a definitive agreement for a $20 million registered direct offering. The company will issue 2,051,282 shares at $9.75 each. The funds will support R&D and business development for PFAS destruction technology, cover capex and maintenance costs, and serve general corporate purposes. The offering, managed by Craig-Hallum Capital Group and Wellington Shields & Co., is set to close around May 24, 2024, pending customary conditions. The offering is pursuant to a registration statement declared effective by the SEC on June 1, 2023.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) reported financial results for Q1 2024, with a revenue of $13.6 million, down from $20.1 million in Q1 2023. The Services Segment revenue decreased due to project delays from Continuing Resolution impacts. Treatment Segment revenue also declined because of lower waste volume and prices. The company reported a gross loss of $620,000, operating loss of $4.5 million, and a net loss of $3.6 million. Despite challenges, the company is optimistic about strategic wins and investments in new technology.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) commended the U.S. EPA for setting strict new regulatory and enforcement measures regarding PFAS. The company recently completed successful pilot tests for its Perma-FAS™ technology, offering a sustainable and cost-effective solution for PFAS destruction.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) has scheduled a conference call for May 9, 2024, at 11:00 AM Eastern Time. The call will be led by key executives and can be accessed via webcast or telephone. The Company will provide a business update during the call.
Perma-Fix Environmental Services, Inc. has been chosen by the U.S. Department of Energy to take part in a 10-year small business IDIQ contract worth up to $2 billion. The company will provide Deactivation, Decommissioning, and Removal services for various government agencies, reinforcing its position in the environmental services sector.
