Wierzbowski Eversheds advises Perma-Fix Medical S.A. on reverse merger and listing on the NewConnect market in Warsaw

The M&A team at Wierzbowski Eversheds advised Perma-Fix Medical S.A. on its reverse merger with CEE Opportunity Partners Poland S.A. in the summer of 2014. As part of the transaction, the company conducted a capital increase and listed its new shares on the NewConnect market, a process which was completed in December 2014.

Perma-Fix Medical Corp., a wholly owned subsidiary of NASDAQ-listed Perma-Fix Environmental Services, Inc., announced plans in March 2014 for a reverse merger with CEE Opportunity Partners Poland S.A. As a result, Perma-Fix Medical S.A. is now listed on the NewConnect market of the Warsaw Stock Exchange. The company plans to develop its operations in the field of nuclear medicine, including production of Technetium-99m (Tc-99m), an isotope used for medical purposes all over the world.

Under the agreements signed in the transaction, the shareholders of CEE Opportunity Partners Poland S.A. voted at the general meeting to change the company name to Perma-Fix Medical S.A. and elected new members of the supervisory board. The next step was a private offering of new shares, followed by registration of the shares and admission of the shares to trading on NewConnect. The total value of the newly issued shares was PLN 8,250,000.

The client was advised by Krzysztof Feluch, Renata Patoka and Natalia Burchardt, and their work was coordinated by Ewa Szlachetka, head of the M&A practice at Wierzbowski Eversheds.