Perma-Fix Environmental Services (NASDAQ: PESI) announced the pricing of its underwritten public offering of 2,285,714 shares of common stock at $8.75 per share. The company expects gross proceeds of approximately $20 million before deducting underwriting discounts and other offering expenses.

The offering includes a 30-day option for the underwriter to purchase up to 342,857 additional shares at the public offering price, less the underwriting discount. The transaction is expected to close on or about May 18, 2026, subject to customary closing conditions.

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

Craig-Hallum serves as the sole managing underwriter for the offering. The shares are being offered under 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 government and commercial facilities nationwide.