Filed Pursuant to 424(b)(3)
Registration No. 333-70676
PERMA-FIX ENVIRONMENTAL SERVICES, INC.
FIRST SUPPLEMENT TO PROSPECTUS DATED DECEMBER 2, 2002
As disclosed in the Prospectus, dated December 2, 2002, the Company
issued to Ryan Beck & Co. ("Ryan Beck") the following warrants for the purchase
of up to an aggregate of 137,949 shares of our common stock, in addition to
other warrants for the purchase of 243,889 shares of our common stock: (a)
Placement Agent Warrants, dated July 30, 2001, to purchase up to 10,800 shares
of common stock, a portion of which were assigned to managing directors of Ryan
Beck in June 2002; (b) Consultant Warrants, dated January 31, 2001, to purchase
up to 38,281 shares of common stock; (c) Consultant Warrants, dated March 9,
2001, to purchase up to 27,344 shares of common stock; and (d) Consultant
Warrants, dated July 31, 2001, to purchase up to 61,524 shares of common stock.
The shares of common stock are described under "Summary of Securities Being
Offered" in the Prospectus, are referred to in other portions of the Prospectus
and are covered by the Prospectus. Capitalized terms in this First Supplement
have the meanings ascribed to them in the Prospectus.
In April 2005, Ryan Beck assigned portions of the forgoing warrants to
certain employees of Ryan Beck as follows:
Number of
Warrant Name Warrant Date Assignee Warrants Assigned
------------------------- ----------------- ----------------- -----------------
Placement Agent Warrants July 30, 2001 Jeffrey Sherry 936
David Eagle 228
Michael Kollender 36
Consultant Warrants January 31, 2001 Jeffrey Sherry 3,317
David Eagle 808
Michael Kollender 128
Consultant Warrants March 9, 2001 Jeffrey Sherry 2,370
David Eagle 577
Michael Kollender 91
Consultant Warrants July 31, 2001 Jeffrey Sherry 5,332
David Eagle 1,299
Michael Kollender 205
Following the assignments described in the table above, Ryan Beck
retained (a) Placement Agent Warrants, dated July 30, 2001, to purchase up to
9,600 shares of common stock; (b) Consultant Warrants, dated January 31, 2001,
to purchase up to 34,028 shares of common stock; (c) Consultant Warrants, dated
March 9, 2001, to purchase up to 24,306 shares of common stock; and (d)
Consultant Warrants, dated July 31, 2001, to purchase up to 54,688 shares of
common stock.
In conjunction with the above, the table below supplements and amends,
in part, the Selling Stockholders table beginning on page 22 of the Prospectus
by (a) adding David Eagle as a Selling Stockholder, (b) adjusting the offering
and beneficial ownership information applicable to each of Michael Kollender and
Jeffrey Sherry, to account for assignment of warrants by Ryan Beck, and (c)
adjusting the offering and beneficial ownership information applicable to Ryan
Beck to account for the assignment of warrants. The number of shares of common
stock covered by the Prospectus remains unchanged. Except with respect to each
Selling Stockholders listed below, the Selling Stockholders table beginning on
page 22 of the Prospectus remains unchanged.
COMMON STOCK
BENEFICIALLY OWNED
COMMON STOCK AFTER OFFERING
BENEFICIALLY OWNED COMMON STOCK -----------------------
SELLING STOCKHOLDER PRIOR TO OFFERING BEING OFFERED NUMBER % OF CLASS
--------------------- ------------------ ---------------- ---------- ----------
David Eagle** 2,912 2,912(13) - *
Michael Kollender** 266,002 160,085(14) - *
Ryan Beck & Co** 366,511 223,981(15) - *
Jeffrey Sherry** 15,310 13,349(16) - *
* Less than 1.0%.
** This Selling Stockholder is an affiliate of a registered
broker-dealer.
(13) As described under "Consultant Warrants" beginning on page
21 of the Prospectus, the Consultant Warrants may be exercised by
a cashless net exercise provision. The shares listed are shares
issuable under Consultant Warrants and Placement Agent Warrants.
(14) As described under "Consultant Warrants" beginning on page
21 of the Prospectus, the Consultant Warrants may be exercised by
a cashless net exercise provision. The shares listed include
84,762 shares issuable under unexercised Consultant Warrants and
Placement Agent Warrants, and 75,323 shares issued upon the
cashless net exercise of 181,240 Consultant Warrants prior to the
date of this prospectus.
(15) As described under "Consultant Warrants" beginning on page
21 of the Prospectus, the Consultant Warrants may be exercised by
a cashless net exercise provision. The shares listed include
122,622 shares issuable under unexercised Consultant Warrants and
Placement Agent Warrants, and 101,359 shares issued upon the
cashless net exercise of 243,889 Consultant Warrants prior to the
date of this prospectus.
(16) As described under "Consultant Warrants" beginning on page
21 of the Prospectus, the Consultant Warrants may be exercised by
a cashless net exercise provision. The shares listed include
11,955 shares issuable under unexercised Consultant Warrants and
Placement Agent Warrants, and 1,394 shares issued upon the
cashless net exercise of 3,355 Consultant Warrants prior to the
date of this prospectus.
The date of this First Amendment to Prospectus is September 20, 2005.