Perma-Fix (PESI)

[tigerpac]

Company did a 1 million share public offering yesterday at $6.20 per share and stock advanced over 10% on the news. Total OS shares went from 12.2 million to 13.2 million (excluding incentive grants). All the recent contract wins probably necessitated the following upgrades.

Perma-Fix plans to use the aggregate net proceeds of approximately $5.8 million from the offering primarily to fund general growth capital as well as for general corporate purposes and working capital. Growth capital initiatives include, but are not limited to, expansion activities and upgrades at its four treatment facilities and related to the Test Bed Initiative.