secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2025-06-23T23:59:59+00:00
Accession:  0001104659-25-061724
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle raises $300M via issuance of Series B Convertible Perpetual Preferred Stock
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- Gross proceeds of $300M from sale of 300,000 shares of Series B Convertible Preferred Stock at $1,000/share.
- Initial conversion price of $14.02 per share, a 30% premium to the 10-day VWAP before the subscription agreements.
- Cumulative dividends accrue at 7% per annum, payable in kind or cash at the Company's option.
- Series B Preferred ranks senior to common stock but junior to existing Series A Preferred and all indebtedness.
- Registration statement for resale of conversion shares must be filed within 30 days of closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000110465925061724/0001104659-25-061724-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000110465925061724/tm2518118d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-061724

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