PERMA-FIX ENVIRONMENTAL SERVICES, INC. (NASDAQ:PESI) Files An 8-K Other Events
Item 8.01 – Other Events

On May 1, 2017, Perma-Fix Environmental Services, Inc. (the “Company”) received approximately $5,951,000 in cash which previously was held as collateral by American International Group, Inc. (“AIG”) under a required closure policy which provided financial assurance to the state of Washington in the event of closure of the Company’s Perma-Fix Northwest Richland, Inc.’s subsidiary (“PFNWR”). The PFNWR closure policy has been cancelled and the Company has obtained a new bonding mechanism in the required amount of approximately $7,000,000 to provide financial assurance for the PFNWR subsidiary. The new bonding mechanism requires collateral in the amount of $2,500,000 and will be secured by a standby letter of credit (“L/C”) to be issued by the Company’s lender. The $5,951,000 cash received from AIG was used to pay off the Company’s revolving credit with the remainder to be used for general working capital purposes. Upon receipt of the approximately $5,951,000 in cash from AIG, the Company’s borrowing availability increased by approximately $5,201,000 after required borrowing restrictions placed by the Company’s lender. Once the L/C is issued by the Company’s lender, the Company’s borrowing availability will be reduced by $2,500,000.

About PERMA-FIX ENVIRONMENTAL SERVICES, INC.  (NASDAQ:PESI)

Perma-Fix Environmental Services, Inc. is an environmental and environmental technology know-how company. It operates in three segments: The Treatment Segment (Treatment), the Services Segment (Services) and the Medical Segment (Medical). Treatment includes nuclear, low-level radioactive, mixed (waste containing both hazardous and low-level radioactive waste), hazardous and non-hazardous waste treatment, processing and disposal services primarily through approximately four licensed and permitted treatment and storage facilities held by its subsidiaries. Services include on-site waste management services to commercial and government customers, technical services and nuclear services. The Medical segment includes research and development (R&D) of a new medical isotope production technology by its Polish subsidiary, Perma-Fix Medical S.A. (PF Medical). Its Treatment and Services provide services to research institutions, commercial companies, public utilities and governmental agencies.

PERMA-FIX ENVIRONMENTAL SERVICES, INC.  (NASDAQ:PESI) Recent Trading Information

PERMA-FIX ENVIRONMENTAL SERVICES, INC.  (NASDAQ:PESI) closed its last trading session up +0.02 at 3.30 with 14,276 shares trading hands.