Enviri II Corp (New Enviri)NVRI

Spin-off from Enviri Corporation (now Enviri LLC) · Jun 1, 2026 · NYSE

one share of New Enviri common stock for every three shares of CE Holdings common stock held immediately after the holding-company merger

Documents

Both companies today

Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.

What is being separated

New Enviri holds the Harsco Environmental (steel-mill services) and Harsco Rail segments and trades under the inherited NVRI symbol. The distribution was the first step of a two-part transaction in which the remaining company, renamed CE Holdings and holding the Clean Earth business, was acquired by Veolia under a merger agreement dated November 20, 2025; $1.1 billion of debt was repaid out of the deal.

Stated rationaleEnviri's board separated the Harsco businesses so that Clean Earth could be sold to Veolia for cash while shareholders kept the environmental and rail operations as a listed company.

The four questions

Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months.