PureCycle announces $250M convertible note and $145M common stock offerings

PureCycle Technologies, Inc.

Launched concurrent underwritten public offerings of $250M convertible senior notes due 2032 and $145M shares of common stock.
Underwriters granted 30-day options for up to $37.5M additional notes and $18.75M additional common stock.
Net proceeds to partially repurchase outstanding 7.25% green convertible notes due 2030 and for working capital.
Amended revolving credit agreement to permit offerings and remove certain secured obligations to Sylebra affiliates.
Morgan Stanley is sole bookrunner for both offerings; pricing terms to be set at pricing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PureCycle Technologies, Inc. amended Eleventh Amendment to Credit Agreement with Sylebra Capital Partners Master Fund, LTD, Sylebra Capital Parc Master Fund, and Sylebra Capital Menlo Master Fund (effective 2026-06-10).

Action: amendment
Agreement: credit facility
Counterparty: Sylebra Capital Partners Master Fund, LTD, Sylebra Capital Parc Master Fund, and Sylebra Capital Menlo Master Fund
Effective: 2026-06-10

Exact text from the filing

On June 10, 2026, the Company, the Guarantors, the Administrative Agent, the Security Agent and the Lenders executed a Limited Consent and Eleventh Amendment to Credit Agreement ("Eleventh Amendment to Credit Agreement"), which amends the Revolving Credit Agreement to, among other things, (i) permit the Offerings (as defined below) and (ii) remove as secured obligations certain obligations in respect of the Company’s Series A Preferred Stock, par value $0.001 per share, Series C Warrants and Pre-Funded Warrants, in each case, owed by Sylebra Capital Management and/or its affiliates.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Action: amendment
Agreement: credit facility
Counterparty: Sylebra Capital Partners Master Fund, LTD, Sylebra Capital Parc Master Fund, and Sylebra Capital Menlo Master Fund
Effective: 2026-06-10

Exact text from the filing

On June 10, 2026, the Company, the Guarantors, the Administrative Agent, the Security Agent and the Lenders executed a Limited Consent and Eleventh Amendment to Credit Agreement (“Eleventh Amendment to Credit Agreement”), which amends the Revolving Credit Agreement

View on SEC.gov

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PureCycle Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-266413

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