secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0000950170-24-118376
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle amends bond indenture; adds financial covenants, extends completion date to Dec 31, 2026
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- Sixth Supplemental Indenture executed Oct 25, 2024, amending 2020 revenue bonds for Ohio recycling facility.
- Outside Completion Date extended to December 31, 2026.
- Adds Senior Parity Coverage Requirement of 125% and Overall Coverage Requirement of 105%.
- Requires at least 60 Days Cash on Hand starting FY ending Dec 31, 2026; distribution restriction until Jan 1, 2027.
- Failure to meet thresholds triggers independent consultant review; event of default at 115% Senior Parity or 100% Overall coverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024118376/0000950170-24-118376-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000095017024118376/pct-20241025.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-118376

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