secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0000950170-24-106348
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle raises $90M gross via preferred stock, common stock, and warrants; Ironton reaches 10,000 lbs/hr feed rate
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- Raised $90M gross: $50M Series A Preferred (8% return, 3-yr maturity), 8.5M shares common at $4.69/sh, warrants for 5M shares at $11.50/sh.
- Ironton facility feed rate >10,000 lbs/hr and processed >200,000 lbs in a day; targeting 1M lbs/week in Q3.
- Sylebra's $200M credit facility extended to March 31, 2026; lenders include affiliates of Sylebra.
- Compounded ~500k lbs to date, plan 1M lbs in Sept and >3M lbs/month in Q4; initial Q3 sales, Q4 revenue ramp.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024106348/0000950170-24-106348-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024106348/pct-20240911.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-106348

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