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)
January 25,
2010
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
|
¨
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
|
Section
1 – Registrant’s Business and Operations
Item
1.01 – Entry Into A Material Definitive Agreement
We, our
subsidiaries and our lender, PNC Bank, National Association (“PNC”), entered
into Amendment No. 14 (“Amendment”), dated as of January 25, 2010, to our
Revolving Credit, Term Loan and Security Agreement (“Loan Agreement”), amending
the interest rate to be paid under the LIBOR option. Under the terms
of the Loan Agreement, we are to pay interest on the outstanding balance of the
term loan and the revolving line of credit, at our option, based on prime plus
2.5% and 2.0%, respectively, or LIBOR plus 3.5% and 3.0%,
respectively. Under the Loan Agreement prior to the Amendment, the
LIBOR option included a 2.5% floor, which limited the minimum interest rates on
the term loan and revolving line of credit at 6.0% and 5.5%,
respectively. Under the Amendment, we and PNC agreed to lower the
floor on the LIBOR interest rate option by 150 basis points to 1.0%, allowing
for minimum interest rate floor under the LIBOR option on the outstanding
balances of our term loan and revolving line of credit of 4.5% and 4.0%,
respectively. The prime rate option of prime plus 2.5% and 2.0% in
connection with our term loan and revolving line of credit, respectively, was
not changed under the Amendment.
All other
terms of the Loan Agreement, as amended prior to this Amendment, remain
principally unchanged.
Section
2 – Financial Information
Item
2.03 – Creation of a Direct Financial Obligation or an Obligation Under an Off
Balance Sheet Arrangement of a Registrant.
We and
PNC entered into the Amendment to our Loan Agreement, as described in Item 1.01
of this report, which is incorporated herein by reference.
Section
9 – Financial Statements and Exhibits
Item
9.01 – Financial Statements and Exhibits
(d) Exhibits.
Exhibit
|
|
Description
|
|
|
|
99.1
|
|
Amendment
No. 14 to Revolving Credit, Term Loan and Security Agreement, dated
January 25, 2010.
|
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: January
28, 2010
|
PERMA-FIX
ENVIRONMENTAL SERVICES, INC.
|
|
|
|
By:
|
/s/ Ben Naccarato
|
|
|
|
Ben
Naccarato
|
|
|
Vice
President and
|
|
|
Chief
Financial Officer
|