Apollo Capital Notes Deficiencies of SPAR Group Take-Private By Highwire [Yahoo! Finance]
Perma-Fix Environmental Services, Inc. (PESI)
US:NASDAQ Investor Relations:
perma-fix.com
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Source: Yahoo! Finance
Apollo Capital contends that, among other things: (1) there are serious questions about the credibility and certainty of Highwire's financing and the ability to close the proposed take-private transaction, (2) if Highwire cannot obtain the financing, it would only be obligated to pay to SPAR a fee of $1.76 million, and Apollo Capital believes that such an amount would not begin to compensate SPAR and its stockholders for the harm they would suffer as a result of a failed transaction following a prolonged strategic review process, and (3) the transaction is conditioned on the balance sheet cash of SPAR being not less than $14,200,000, and SPAR has not provided disclosure as to its current expectation of balance sheet cash at closing. Following our review of the SEC disclosures by SPAR and Highwire, we question whether the proposed take-private transaction is nothing more than an option for Highwire to acquire SPAR at its sole discretion, and to the detriment of the SPAR stockholders
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News
- Perma-Fix Environmental Services, Inc. (PESI): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- Perma-Fix Environmental Services Inc (PESI) Q3 2024 Earnings Call Highlights: Strategic Growth ... [Yahoo! Finance]Yahoo! Finance
- Perma-Fix Reports Financial Results and Provides Business Update for the Third Quarter of 2024GlobeNewswire
- Perma-Fix Schedules Third Quarter 2024 Business Update Conference CallGlobeNewswire
- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
PESI
Earnings
- 5/9/24 - Miss
PESI
Sec Filings
- 11/19/24 - Form 4
- 11/15/24 - Form 4
- 11/13/24 - Form 10-Q
- PESI's page on the SEC website