Clayton, Missouri--(Newsfile Corp. - November 20, 2024) - Perimeter Solutions, SA (NYSE: PRM), a leading provider of mission-critical firefighting products and services as well as high-quality specialty chemicals, today announced the completion of the redomiciliation process to change the parent company of the corporate group from a Luxembourg company to a Delaware corporation. The redomiciliation was approved overwhelmingly by shareholders of Perimeter Solutions, SA at a Special Meeting held on November 20, 2024 in the Grand Duchy of Luxembourg. Effective as of the close of trading on November 20, 2024, all issued ordinary shares of Perimeter Solutions, SA have been exchanged on a one-for-one basis for newly issued shares of common stock of Perimeter Solutions, Inc. ("Perimeter" or the "Company"). Perimeter Solutions, Inc. common stock will begin trading on November 21, 2024, and the Company's trading symbol on the New York Stock Exchange will remain unchanged as "PRM."
Haitham Khouri, Perimeter's Chief Executive Officer, commented, "We're proud that Perimeter will become an American domiciled company. We will continue to proudly serve our customers worldwide while benefiting from having our legal and functional headquarters near our largest base of operations here in the United States."
Kyle Sable, Perimeter's Chief Financial Officer, added, "This redomiciliation benefits our stakeholders by streamlining the regulatory, accounting and tax compliance burden inherent in operating across multiple jurisdictions. We continue to anticipate an ongoing cash benefit to the Company in the form of lower operating expenses, more fully optimized tax strategies, and reduced complexity."
Perimeter's existing headquarters in Clayton, Missouri will remain the Company's sole operational headquarters while becoming the legal seat of the parent Company. Given that Perimeter was already managed in the U.S., the Company does not anticipate any impact to day-to-day business and operations as a result of the redomiciliation.
Details of the process to redomicile can be found in a Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission (the "SEC") on the Company's website and at www.sec.gov.
About Perimeter Solutions
Perimeter Solutions is a leading global solutions provider, providing high-quality firefighting products and specialty chemicals. The Company's business is organized and managed in two reporting segments: Fire Safety and Specialty Products.
The Fire Safety business consists of formulating, manufacture and sale of fire retardants and firefighting foams that assist in combating various types of fires, including wildland, structural, flammable liquids and others. Our Fire Safety business also offers specialized equipment and services, typically in conjunction with our fire management products, to support our customers' firefighting operations. Our specialized equipment includes airbase retardant storage, mixing, and delivery equipment; mobile retardant bases; retardant ground application units; mobile foam equipment; and equipment that we custom design and manufacture to meet specific customer needs. Our service network can meet the emergency resupply needs of over 150 air tanker bases in North America, as well as many other customer locations in North America and internationally. The segment is built on the premise of superior technology, exceptional responsiveness to our customers' needs, and a "never-fail" service network. The segment sells products to government agencies and commercial customers around the world.
The Specialty Products business produces and sells high quality Phosphorus Pentasulfide ("P2S5") primarily used in the preparation of lubricant additives, including a family of compounds called Zinc Dialkyldithiophosphates ("ZDDP") that provide critical anti-wear protection to engine components. P2S5 is also used in pesticide and mining chemicals applications.
Forward-Looking Information
This press release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "continue," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods.
Any such forward-looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond the Company's control) and assumptions. Although Perimeter believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Perimeter's actual financial results and cause them to differ materially from those anticipated in any forward-looking statements, including the risk factors described from time to time by us in our filings with the SEC, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 22, 2024. Shareholders, potential investors and other readers should consider these factors carefully in evaluating the forward-looking statements.
Any forward-looking statement made by Perimeter in this press release speaks only as of the date on which it is made. Perimeter undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
