PureCycle achieves Ironton milestones, extends $150M credit line, targets 50% capacity by September

PureCycle Technologies, Inc.

2023-Q2 EPS reported -$0.50

Achieved first two bondholder milestones: mechanical completion and PIR pellet production at Ironton facility in Q2 2023.
Expect next milestone: operate at 50% capacity (4.45M lbs UPR resin/month) by September 30, 2023.
Closed on Augusta, GA land rights for up to eight purification lines; site construction targeted Q4 2023.
Extended $150M revolving credit line with Sylebra Capital through March 31, 2025.
Total liquidity $366.3M (cash $28.9M, restricted cash $187.4M, undrawn $150M revolver) as of June 30, 2023.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PureCycle Technologies, Inc. reported financial results for second quarter ended June 30, 2023.

Period: second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 8, 2023, the Company issued a press release, attached hereto as Exhibit 99.1 and incorporated herein by reference, announcing the Company’s financial results for the second quarter ended June 30, 2023, and certain other information.

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Source: SEC EDGAR

accession 0001830033-23-000060

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