Market Overview

Charah Solutions, Inc. Announces Pricing of Initial Public Offering


Charah Solutions, Inc. ("Charah") announced today the pricing of its
initial public offering of 7,352,941 shares of its common stock at
$12.00 per share pursuant to a registration statement on Form S-1 (the
"Registration Statement") filed with the U.S. Securities and Exchange
Commission (the "SEC"). Of the 7,352,941 shares of Charah's common stock
to be sold in the offering, Charah is offering 5,294,117 shares and the
selling stockholders named in the Registration Statement (the "Selling
Stockholders") are offering 2,058,824 shares. The shares are expected to
begin trading on the New York Stock Exchange under the ticker symbol
"CHRA" on June 14, 2018. In addition, the Selling Stockholders granted
the underwriters a 30-day option to purchase up to an additional
1,102,941 shares of Charah's common stock at the initial public offering
price, less underwriting discounts and commissions. The offering is
expected to close on June 18, 2018, subject to customary closing

Charah expects to receive approximately $51.4 million of net proceeds
from the offering. Charah expects to use the net proceeds from the
offering to repay borrowings outstanding under its term loan and the
remaining net proceeds for general corporate purposes. Charah will not
receive any of the proceeds from the sale of shares of Charah's common
stock by the Selling Stockholders.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running
managers for the offering. Stifel is acting as a bookrunner for the
offering. Macquarie Capital, First Analysis Securities Corp. and
Houlihan Lokey are acting as co-managers for the offering. The offering
of these securities is being made only by means of a prospectus. When
available, a copy of the prospectus may be obtained from:

  • Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
    Street, 2nd Floor, New York, NY 10014
  • BofA Merrill Lynch, NC1-004-03-43, Attention: Prospectus Department,
    200 North College Street, 3rd Floor, Charlotte, NC 28255-0001 or by
    email at

Important Information

A registration statement relating to these securities has been filed
with, and declared effective by, the SEC. The registration statement may
be obtained free of charge at the SEC's website at under
"Charah Solutions, Inc." This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state or

About Charah Solutions, Inc.

Based in Louisville, KY, Charah Solutions, Inc. is a provider of
environmental and maintenance services to the power generation industry,
with operations in coal-fired and nuclear power generation sites across
the country.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent Charah's expectations or beliefs concerning future
events, and it is possible that the results described in this press
release will not be achieved. These forward-looking statements are
subject to risks, uncertainties and other factors, many of which are
outside of Charah's control, which could cause actual results to differ
materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is
made, and, except as required by law, Charah does not undertake any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. New factors
emerge from time to time, and it is not possible for Charah to predict
all such factors. When considering these forward-looking statements, you
should keep in mind the risk factors and other cautionary statements in
the prospectus filed with the SEC in connection with Charah's initial
public offering. The risk factors and other factors noted in Charah's
prospectus could cause its actual results to differ materially from
those contained in any forward-looking statement.

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