secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001830033-22-000058
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle delays Ironton start to Q1 2023, JV with SK geo centric, financing deadline Dec 31
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- Ironton flagship facility now targeting mechanical completion and pellet production in Q1 2023 (delayed); budget increased to ~$317M.
- Finalized 50/50 JV with SK geo centric for a 130M lb/yr PP purification facility in Ulsan, South Korea; production expected H2 2025.
- Augusta lines 1 and 2 overcommitted at 111% of nameplate capacity via multi-year offtake; mechanical completion expected H2 2024 subject to financing.
- Financing for Augusta and three PreP facilities targeted by year-end; AEDA may terminate MOU if financing not obtained by Dec 31, 2022.
- A feedstock supplier/offtake customer of Ironton seeks termination; Company disputes; $12.4M reimbursement from bond funds pending Trustee investigation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000058/0001830033-22-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000058/pct-20221109.htm
  HTML page:      https://secwatch.observer/filing/0001830033-22-000058

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