Form 4: Enviri Corp Acquisition and Reorganization Completion

Director Nicholas C. Fanandakis reports the disposal of Enviri Corp shares following the company's merger and reorganization.

Summary

• Enviri Corp completed a complex merger and reorganization process on June 1, 2026.
• The transaction involved a merger with CLEH, Inc., a subsequent reorganization, and a distribution of New Enviri common stock.
• Reporting person Nicholas C. Fanandakis disposed of all 18,309 shares of Enviri Corp common stock held prior to the transaction.
• Shareholders received $15.00 per share in cash and one share of New Enviri common stock for every three shares of Enviri Corp previously held.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing documenting the finalization of a previously announced corporate merger.

Positives

• Shareholders received a cash consideration of $15.00 per share as part of the merger agreement.
• Shareholders retained an equity interest in the newly formed entity, New Enviri, via a pro rata distribution.

Negatives

• The reporting person no longer holds any direct beneficial ownership in the original Enviri Corp entity as it has been merged into a subsidiary of Veolia Environment S.A.

Risks

• The completion of the merger and reorganization marks the end of the issuer's status as an independent publicly traded entity under its previous structure.

Future Outlook

The issuer has been acquired by Veolia Environment S.A. and has undergone a significant corporate reorganization, effectively ending its previous operational structure.

Management Comments

• The transactions were executed pursuant to the terms of the Merger Agreement and Separation Agreement dated November 20, 2025.

Industry Context

StockSavvy.ai notes that this transaction represents a significant consolidation in the environmental services sector, with Veolia Environment S.A. expanding its footprint by acquiring Enviri Corp's assets.

Comparison to Industry Standards

• The acquisition price and structure align with typical M&A activity in the industrial services sector, involving both cash-out components and spin-offs of specific business segments.

Corporate Governance

Stakeholder Impact

• Shareholders received cash and equity in a new entity.
• The company is no longer an independent public entity.

Next Steps

• Finalization of the integration of Enviri Corp assets into Veolia Environment S.A. and New Enviri operations.

Key Dates

Keywords

Enviri Corp, Merger, Acquisition, Veolia Environment, Reorganization, Form 4, Divestiture