Corporate ActionJun 1, 2026, 09:02 AM
New Enviri Completes Spin-Off; Shareholders Get $15/Share & Stock
AI Summary
New Enviri Corporation announced the completion of its spin-off as a standalone publicly traded company, immediately prior to the sale of Clean Earth to Veolia Environnement SA. Enviri shareholders will receive one share of New Enviri common stock for every three shares of Enviri common stock and $15.00 per share in cash. New Enviri, led by Russell Hochman, will begin "Regular Way" trading on June 2, 2026, under the ticker "NVRI" and is projected to have annualized 2026 pro forma revenues of approximately $1.2 billion and Adjusted EBITDA of $140 million.
Key Highlights
- New Enviri completed its spin-off as a standalone publicly traded company.
- Enviri shareholders receive 1 share of New Enviri for every 3 shares of Enviri, plus $15.00 cash per share.
- New Enviri's "Regular Way" trading on NYSE under "NVRI" begins June 2, 2026.
- Annualized 2026 expected pro forma revenues are approximately $1.2 billion.
- Annualized 2026 expected pro forma Adjusted EBITDA is approximately $140 million.
- The company maintains a conservative capital structure with Net Debt to Adjusted EBITDA of 2.0x.
- Harsco Environmental's pro forma 2026 revenues are $1,018 million.
- Harsco Rail's pro forma 2026 revenues are $227 million.
Price Impact
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