# EDGAR Filing Document

**Accession Number:** 0001730346
**File Stem:** 0001730346-23-000004
**Filing Date:** 2023-1
**Character Count:** 13011
**Document Hash:** b3cccce4d52653755b6b86fd2bc703d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001730346-23-000004.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001730346-23-000004

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230113

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Charah Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001730346
- **STANDARD INDUSTRIAL CLASSIFICATION:** HAZARDOUS WASTE MANAGEMENT [4955]
- **IRS NUMBER:** 824228671
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38523
- **FILM NUMBER:** 23541350

**BUSINESS ADDRESS:**
- **STREET 1:** 12601 PLANTSIDE DRIVE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40299
- **BUSINESS PHONE:** 502-815-5062

**MAIL ADDRESS:**
- **STREET 1:** 12601 PLANTSIDE DRIVE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40299

?xml version="1.0" ? chra-20230113

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**____________________________**

**FORM 8-K**

**____________________________**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): January 13, 2023

**____________________________**

**CHARAH SOLUTIONS, INC.**

(Exact name of registrant as specified in its charter)

**____________________________**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38523** | **82-4228671** |
| (State or other jurisdiction of<br>incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |
| **12601 Plantside Drive**<br>**Louisville, Kentucky** | | **40299** |
| (Address of principal executive offices) | | (Zip Code) |

---

(Registrant's telephone number, including area code): **(502) 245-1353**

**____________________________**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;◻&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

&nbsp;&nbsp;&nbsp;&nbsp;◻&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

&nbsp;&nbsp;&nbsp;&nbsp;◻&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

&nbsp;&nbsp;&nbsp;&nbsp;◻&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, par value $0.01 per share | CHRA | New York Stock Exchange |
| 8.50% Senior Notes due 2026 | CHRB | New York Stock Exchange |

---

**____________________________**

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

------

**Item 3.01&nbsp;&nbsp;&nbsp;&nbsp;Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**

On January 13, 2023, Charah Solutions, Inc. (the "<u>Company</u>") received a notice (the "<u>Notice</u>") from the New York Stock Exchange (the "<u>NYSE</u>") that the Company is not in compliance with the continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual because its total market capitalization is less than $50 million over a 30 trading-day period and its stockholders' equity is less than $50.0 million.

Pursuant to the NYSE's customary procedures, the Company has 45 calendar days from receipt of the Notice to submit a business plan (the "Plan") to the NYSE demonstrating how it intends to regain compliance with the NYSE's continuing listing standards. The Company currently intends to develop and submit a Plan to the NYSE within the required time frame.

If the NYSE accepts the Plan, the Company's shares will continue to trade on the NYSE and the Company will be subject to quarterly monitoring by the NYSE for compliance with the Plan. If the NYSE rejects the Plan, however, the Company will be subject to suspension by the NYSE and delisting from the NYSE by the SEC. If the NYSE rejects the Company's Plan, the Company intends to seek the transfer to an alternate exchange or trading market.

**Item 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

On January 20, 2023, the Company issued a press release, as required by Section 802.02 of the NYSE Listed Company Manual, announcing that it had received the Notice. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

The information in Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, is being "furnished" pursuant to General Instruction B.2 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Company filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

This Current Report on Form 8-K contains certain "forward-looking statements." All statements, other than statements of historical facts, included in this Current Report on Form 8-K that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements. These statements are based on certain assumptions made by the Company based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual results to differ materially from those implied or expressed by the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

**Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statement and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Exhibits*

---

| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| <u>[99.1\*](chra12023exhibit991.htm)</u> | <u>[Press release dated January 20, 2023](chra12023exhibit991.htm)</u>. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Furnished herewith.

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | **CHARAH SOLUTIONS, INC.** | **CHARAH SOLUTIONS, INC.** |
| Date: | January 20, 2023 | By: | /s/ Jonathan Batarseh |
|  |  | Name: | Jonathan Batarseh |
|  |  | Title: | President and Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Charah Solutions, Inc. Receipt of Market Capitalization Notification Letter from NYSE**

**Louisville, KY – January 20, 2023** – Charah Solutions, Inc. (NYSE:CHRA) ("Charah Solutions" or the "Company"), a leading provider of environmental services and byproduct recycling to the power generation industry, received written notice from the New York Stock Exchange ("NYSE") that its total market capitalization is less than $50 million over a 30 trading-day period and its stockholders' equity is less than $50 million, which are the minimum for continued listing on the NYSE.

Charah Solutions intends to respond to the NYSE within 45 days of January 13, 2022 with a business plan that is designed to demonstrate compliance with this listing standard within 18 months of receipt of this notice.

The NYSE notification does not affect Charah Solutions' ongoing business operations or its Securities and Exchange Commission reporting requirements. The Company remains subject to the conditions set forth in the Exchange's letter dated December 28, 2022, for noncompliance with the $1.00 over a 30 trading-day average price standard. Following receipt of the Exchange's December 28, 2022 letter, the Company completed a one-for-ten (1:10) reverse stock split effective on December 29, 2022.

Additional information can be found in Charah Solutions' in filing with the Securities and Exchange Commission, which is available on the SEC's website at www.sec.gov and on the Company's website.

**<u>About Charah Solutions, Inc.</u>**

With more than 35 years of experience, Charah Solutions, Inc. is a leading provider of environmental services and byproduct recycling to the power generation industry. Based in Louisville, Kentucky, Charah Solutions is the partner of choice for solving customers' most complex environmental challenges, and as an industry leader in quality, safety, and compliance, the Company is committed to reducing greenhouse gas emissions for a cleaner energy future. Charah Solutions assists utilities and independent power producers with all aspects of sustainably managing and recycling ash byproducts generated from the combustion of coal in the production of electricity. The Company also designs and implements solutions for ash pond management and closure, landfill construction, structural fill projects, power plant remediation and site redevelopment. As a sustainability leader, Charah Solutions is dedicated to preserving our natural resources in an environmentally conscious manner and is focused on developing innovative solutions for the betterment of the planet, the communities in which it operates and its customers. For more information, please visit www.charah.com or download our 2021 Environmental, Social and Governance (ESG) Report at charah.com/sustainability.

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| | | |
|:---|:---|:---|
| **Charah Solutions Investor Contact** | **IR Agency Contact** | **Charah Solutions Media Contact** |
| Joe Skidmore | Kirsten Chapman | Brad Mercer |
| Charah Solutions, Inc. | LHA Investor Relations | PriceWeber Marketing |
| (502) 245-1353 | (415) 433-3777 | (502) 777-3308 |
| ir@charah.com | charah@lhai.com | media@charah.com |

---

**FORWARD-LOOKING STATEMENTS**

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "believe," "intend," "achievable," "anticipate," "will," "continue," "potential," "should," "could," "guidance," and similar terms and phrases. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. See the Company's Form 10-K for the year ended December 31, 2021 and other periodic reports as filed with the Securities and Exchange Commission for further information regarding risk factors.

Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.