secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2023-03-15T23:59:59+00:00
Accession:  0001830033-23-000021
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 7.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle secures $150M credit facility, waives bond default; Ironton near mechanical completion
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- Limited waiver extends Ironton milestones; requires $87.3M additional equity deposit and $150M financing.
- Secured $150M revolving credit facility from Sylebra (5%+ owners) with interest rates escalating to 17.5% by 2024.
- Ironton nearly mechanically complete; expected in April 2023 with commercial production ramp-up by end of April.
- Q4 2022 liquidity: $326.1M total ($162.5M cash, $163.6M restricted cash); debt $249.6M.
- Selected first European PP recycling site at Port of Antwerp-Bruges; Augusta project continues with $185.7M committed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000021/0001830033-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000021/pct-20230315.htm
  HTML page:      https://secwatch.observer/filing/0001830033-23-000021

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