---
schema_version: "secwatch.filing_event.v1"
accession: "0001830033-22-000024"
form_type: "8-K"
ticker: "PCT"
cik: "0001830033"
company_name: "PureCycle Technologies, Inc."
filed_at: "2022-05-12T23:59:59+00:00"
generated_at: "2026-06-25T19:13:28.561279+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "medium"
source: SEC EDGAR
---

# PureCycle updates Q1: Ironton budget overrun $55-65M; CCO departs; Augusta on track

## Summary
- Ironton flagship facility budget raised by $55-65M to $297-307M due to inflation; mechanical completion targeted early Q4 2022.
- Chief Commercial Officer David Brenner separated effective May 13; last employment day Sept 30 or earlier at Company's option.
- Augusta Phase 1 (260M lbs/yr) on track for startup Q4 2023; 70% allocated via multi-year offtake, 75% feedstock under LOI.
- Total liquidity $609.9M ($418M cash + $191.9M restricted cash); debt $255.7M as of March 31, 2022.

## SEC filing metadata
- accession: 0001830033-22-000024
- form_type: 8-K
- ticker: PCT
- cik: 0001830033
- company_name: PureCycle Technologies, Inc.
- filed_at: 2022-05-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: medium
- sec_items: 2.02, 7.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000024/0001830033-22-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000024/pct-20220511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001830033-22-000024
- JSON: https://secwatch.observer/filing/0001830033-22-000024.json
- Plain text: https://secwatch.observer/filing/0001830033-22-000024.txt

## Key facts
- Executive change
  David W. Brenner departed as Chief Commercial Officer at PureCycle Technologies, Inc..
  - Action: separated
  - Role: Chief Commercial Officer
  source text: Pursuant to the Separation Agreement, Mr. Brenner will no longer serve as the Chief Commercial Officer of the Company effective May 13, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000024/0001830033-22-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.