secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001830033-23-000034
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 7.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle's Ironton facility mechanically complete; secures $62M in new debt financing
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- Ironton facility mechanically complete, PSM certification done, solvent on site; expects first pellet production from virgin resin in weeks.
- Secured $62M new debt: $40M term loan from Sylebra affiliate (SOFR+7.5%, matures Dec 2025) and $22M equipment financing (7% rate, 36 months).
- Submitted plan of finance to AEDA for Augusta project; targeting bond close by June 30, 2023.
- Q1 2023 total liquidity $263.9M ($38.4M cash, $225.5M restricted cash); PureCycle LLC subsidiary net loss $6.7M.
- Remaining 2023 Ironton investment estimated $26-51M; total project cost up to $361M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000034/0001830033-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000034/pct-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001830033-23-000034

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