Filed Pursuant to 424(b)(3) Registration No. 333-14513 Registration No. 333-87437 PERMA-FIX ENVIRONMENTAL SERVICES, INC. Fifth Supplement to Prospectus dated November 13, 1996 ___________________________________________ On July 15, 1999, the Company and RBB Bank Aktiengesellschaft ("RBB Bank"), the sole shareholder of the Company's Series 3 Class C Convertible Preferred Stock ("Series 3 Preferred"), entered into an Exchange Agreement ("Series 3 Exchange Agreement") whereby the 1,769 shares of Series 3 Preferred which remained issued and outstanding were exchanged for 1,769 shares of the Company's Series 11 Class K Convertible Preferred Stock ("Series 11 Preferred"). On August 3, 1999, the Company and RBB Bank entered into an Exchange Agreement ("Series 11 Exchange Agreement") whereby the 1,769 shares of Series 11 Preferred were exchanged for 1,769 shares of Series 14 Class N Convertible Preferred Stock ("Series 14 Preferred"). As originally provided in the Prospectus, the Company registered 7,450,000 shares of Common Stock issued or to be issued to various Selling Security holders for reoffer or resale from time to time by the Selling Security Holders. On September 20, 1999, the Company filed a new registration statement Reg. No. 333-87437 pursuant to Rule 462(b) to register an additional 2,075,237 shares of Common Stock to be issued through the use of this Prospectus. Such 2,075,237 shares were issued or are to be issued upon conversion of the Series 14 Preferred and in payment of accrued dividends thereon. The Series 14 Preferred is not convertible into Common Stock until April 20, 2000. From April 20, 2000, until April 20, 2001, the Series 14 Preferred is convertible at a price of $1.50 per share. Thereafter, the Series 14 Preferred is convertible pursuant to the described terms and conditions of the Series 3 Preferred. The Company may, at its sole option, but shall not be obligated to, redeem, in whole or in part, at any time, and from time to time, the then outstanding Series 14 Preferred at the following cash redemption prices if redeemed during the following periods: (i) within twelve (12) months from April 20, 1999 - $1,100 per share, and (ii) after twelve (12) months from April 20, 1999 - $1,200 per share.
In conjunction with the above and to reflect various reoffers and resales conducted by RBB Bank, this table below supplements and amends, in part, the Selling Security Holders table set forth at page 21 of the Prospectus by adjusting and updating the offering information applicable to RBB Bank as of September 29, 1999. Common Stock Percentage of Common Stock Beneficially Common Stock Beneficially Common Owned After Beneficially Owned Stock Completion Owned After Prior to Being of Completion of Selling Stockholder Offering(1) Offered Offering(2) Offering(2) _____________________ ____________ __________ ___________ ____________ RBB Bank Aktiengesellschaft(3) 12,954,785 6,874,545 6,080,240 25.6% (1) Includes shares of Common Stock which may be acquired upon (a) the exercise of outstanding warrants, whether such are currently exercisable and/or (b) conversion of outstanding shares of preferred stock, whether or not such are currently convertible. (2) Assumes (a) all shares of Common Stock covered by this Prospectus are sold, (b) the Selling Shareholder does not acquire beneficial ownership of additional shares of Common Stock after the date of this Prospectus, and (c) the Company does not issue any additional shares of Common Stock after the date of this Prospectus, except the shares of Common Stock (calculated as described in Note 3) which RBB Bank has the right to acquire upon the exercise of warrants and conversion of preferred stock outstanding as of the date of this Prospectus. The amounts indicated are based on outstanding Common Stock of 20,397,709 shares as of September 29, 1999. (3) Includes (a) 6,751,482 shares of Common Stock that RBB Bank holds directly; (b) 3,006,250 shares that RBB Bank is entitled to receive upon exercise of various warrants; (c) 1,179,333 shares that RBB Bank is entitled to receive upon conversion of the 1,769 shares of Series 14 Preferred remaining outstanding, all of which are held by RBB Bank (assuming the conversion price equals $1.50 per share, the minimum conversion price until April 20, 2001); (d) 410,667 shares that RBB Bank is entitled to receive upon conversion of the 616 shares of Series 15 Class O Convertible Preferred ("Series 15 Preferred") (assuming the conversion price equals $1.50 per share, the minimum conversion price until April 20, 2001); (e) 1,345,493 shares of Common Stock that RBB Bank is entitled to receive upon conversion of the 1,802 shares of Series 16 Preferred held by RBB Bank (assuming the conversion price equals $1.50 per share, the minimum conversion price until April 20, 2001) and in payment of accrued dividends on the Series 16 Preferred (assuming that dividends are paid for three years in Common Stock when the average closing bid price for the five days prior to the dividend payment dates is $1.50, being the closing price of the Common Stock on September 27, 1999); (f) 212,280 shares of Common Stock that RBB Bank may receive in payment of the accrued dividends on the Series 3 Preferred, Series 11 Preferred and Series 14 Preferred (assuming that dividends are paid for three years in Common Stock when the average closing bid price of the Common Stock for the five days prior to the dividend payment dates is $1.50, being the closing price of the Common Stock on September 27, 1999); and (g) 49,280 shares that RBB Bank may receive in payment of the accrued dividends on the Series 4 Preferred (which was exchanged for the Series 6 Preferred), Series 6 Preferred (which was exchanged for the Series 8 Class H Convertible Preferred ("Series 8 Preferred"), Series 8 Preferred (which was exchanged for the Series 12 Class L Convertible Preferred ("Series 12 Preferred"), Series 12 Preferred (which has been exchanged for the Series 15 Preferred), and Series 15 Preferred (assuming that dividends are paid for three years in Common Stock when the average closing bid price of the Common Stock for the five days prior to the dividend payment dates is $1.50, being the closing price of the Common Stock on September 27, 1999).
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