UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 1, 2021
PERMA-FIX ENVIRONMENTAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | | 1-11596 | | 58-1954497 |
| (State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| 8302 Dunwoody Place, Suite 250, Atlanta, Georgia | | 30350 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (770) 587-9898
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act |
| | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common Stock, Par Value, $.001 Per Share | | PESI | | NASDAQ Capital Markets |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act [ ]
Item 1.01 – Entry Into a Material Definitive Agreement
See Item 8.01 contained herein, which is incorporated herein by reference, which discusses the forgiveness of the Paycheck Protection Program (“PPP”) Loan, together with interest, provided to Perma-Fix Environmental Services, Inc. (the “Company”).
Item 8.01 – Other Events
On July 1, 2021, the Company was notified by PNC Bank, National Association (“PNC Bank”), the Company’s credit facility lender (the “Lender”), that the entire balance of the PPP Loan of approximately $5,318,000, along with accrued interest of approximately $63,000, as evidenced by a promissory note that the Company entered into with PNC Bank on April 14, 2020, has been forgiven by the U.S Small Business Administration (“SBA”), effective June 15, 2021. The PPP was established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and is administered by the SBA. The forgiveness of the PPP Loan will be recognized by the Company in its financial statements for the second fiscal quarter ending June 30, 2021.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | PERMA-FIX ENVIRONMENTAL SERVICES, INC. |
| | | | | |
| | | | By: | /s/ Ben Naccarato |
| | | | | Ben Naccarato |
| Dated: | July 6, 2021 | | | Executive Vice President and Chief Financial Officer |
