Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced it has commenced an underwritten public offering of common stock shares. The company stated the proposed offering is subject to market and other conditions, with no assurance regarding completion, timing, size or terms.

The nuclear waste management company plans to use net proceeds to fund capacity upgrades at its Perma-Fix Northwest Richland facility, continued development of its patent-pending Perma-FAS process for PFAS destruction, and general corporate and working capital purposes.

Craig-Hallum is serving as sole managing underwriter for the proposed offering. The shares are being offered pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission and declared effective on December 12, 2024.

Perma-Fix operates as a nuclear services company providing nuclear and mixed waste management services to hospitals, research laboratories, federal agencies including the U.S. Department of Energy, and the commercial nuclear industry. The company operates four nuclear waste treatment facilities and provides services at federal and commercial facilities nationwide.

The offering will be made through a prospectus supplement and accompanying prospectus that will be filed with the SEC. A preliminary prospectus supplement will be available on the SEC's website, with copies also obtainable from Craig-Hallum Capital Group LLC.

The information is based on a company press release statement.