secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001830033-22-000024
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000024/0001830033-22-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000024/pct-20220511.htm
  HTML page:      https://secwatch.observer/filing/0001830033-22-000024

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