secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0000950170-24-053959
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle Q1 net loss $85.6M; agrees to sell $94.3M bonds to Pure Plastic
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- Net loss $85.6M ($0.52 diluted share) vs $25.8M ($0.16) in Q1 2023.
- Loss includes $21.2M from bond purchase, $9.1M non-cash warrant change, $8.0M higher depreciation.
- Ironton facility paused in April for improvements; restarting operations expected this week.
- Agreed to sell $94.3M par value of bonds to Pure Plastic at $800/$1,000; Term Loan deemed prepaid.
- Will issue ~3.1M Series B warrants at $11.50 to satisfy prepayment premium on Term Loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024053959/0000950170-24-053959-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024053959/pct-20240506.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-053959

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer