PRM Perimeter Solutions SA

Perimeter Solutions (PRM) has entered into an amended and restated credit agreement with Morgan Stanley Senior Funding, establishing a senior secured revolving credit facility of up to $200 million. This facility matures on December 19, 2030, and is designed to enhance the company's liquidity and financial flexibility. The agreement includes a $40 million swingline and a $50 million letter of credit sub-facility, with pricing varying with leverage.

East Coast Asset Management trimmed its significant stake in Perimeter Solutions (NYSE:PRM) by nearly 500,000 shares, a move described as risk management rather than a retreat, despite the stock's impressive 111% gain over the past year. Even after the reduction, Perimeter Solutions remains the fund's second-largest holding, valued at over $35 million, demonstrating continued confidence in the company's operational strength and growth in its fire safety and specialty chemicals segments. The company, known for its fire retardants and lubricant additives, reported strong third-quarter revenue and EBITDA growth.

East Coast Asset Management reduced its stake in Perimeter Solutions (NYSE:PRM) by trimming 497,847 shares, worth an estimated $6.40 million, during the third quarter. Despite the reduction, Perimeter Solutions remains the fund's second-largest holding, valued at $35.24 million as of September 30, representing 11.04% of its 13F assets. This strategic move is seen as risk management rather than a retreat, especially as Perimeter Solutions' stock has surged 111% over the past year, with ongoing strong operational performance including a 9% rise in Q3 revenue.

Perimeter Solutions welcomed Washington Public Lands Commissioner Hilary Franz to its Pasco, WA manufacturing facility, where PHOS-CHEK fire retardants are produced. Franz highlighted Perimeter Solutions as an invaluable partner in wildland firefighting efforts, emphasizing the importance of their products in protecting firefighters, the public, and the environment. The visit underscored the company's role in supplying critical fire retardants across North America and its long history in supporting wildfire prevention.

Perimeter Solutions (NYSE: PRM) announced it will present at the UBS Global Materials Conference in New York City on September 4, 2024. The presentation is scheduled for 11:20 AM ET and a live webcast will be accessible via Perimeter's investor relations website. The company specializes in firefighting products and specialty chemicals, including PHOS-CHEK® long-term fire retardant.

Latham & Watkins LLP represented the initial purchasers in Perimeter Solutions’ offering of US$550 million aggregate principal amount of 6.250% senior secured notes due 2034. The offering is expected to close on January 2, 2026. Various teams within Latham & Watkins provided advice on different legal aspects of the transaction.