secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001830033-23-000060
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000060/0001830033-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000060/pct-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001830033-23-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer