Perma-Fix Provides Update on Warrant Exercise
ATLANTA, Aug. 15 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) (BSE: PESI) (Germany: PES.BE) announced all outstanding warrants expiring in 2006 have been exercised or have expired as of July 31, 2006. Year to date, the company received approximately $11.4 million from the exercise of warrants, which includes $5.9 million announced on July 11, 2006. The $11.4 million of proceeds reflects approximately 6.7 million shares of common stock at exercise prices between $1.44 and $1.75 per share. The warrants priced at $1.75 per share were issued as part of a private placement and a debt to equity exchange agreement entered into by the company and completed during July 2001. The company has used the proceeds from the warrants to pay down its revolving credit facility with PNC Bank and increase its cash reserves.
Additional warrants covering approximately 1.8 million shares of common stock are scheduled to expire as of March 16, 2007, with an exercise price of $2.92 per share or an aggregate of $5.2 million.
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The company has increased its focus on the Nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including DOE and the U.S. Department of Defense and nuclear utilities. The Industrial services segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The company operates nine major waste treatment facilities across the country.
Please visit us on the World Wide Web at http://www.perma-fix.com .
SOURCE Perma-Fix Environmental Services, Inc.
CONTACT:
Dr. Louis F. Centofanti,
Chairman and CEO of Perma-Fix
Environmental Services, Inc.,
+1-770-587-5155; or
David K. Waldman - US
Investor Relations,
Crescendo Communications, LLC,
+1-212-671-1020, ext. 101;
or Herbert Strauss - European Investor Relations,
+43-316-296-316, or
herbert@eu-ir.com; or
Stephanie Stern - Media, Stern & Co.,
+1-212-888-0044,
all for Perma-Fix
Released August 15, 2006