PureCycle announces $200M green convertible note offering due 2030

On August 21, 2023, the Company entered into that certain Third Amendment to Credit Agreement (the “Sylebra Amendment”), which amended that certain Credit Agreement, dated as of March 15, 2023 (as previously amended by that certain First Amendment, dated as of May 8, 2023, and that certain Second Amendment, dated as of August 4, 2023), by and among the Company, PureCycle Technologies Holdings Corp. and PureCycle Technologies, LLC, as guarantors, Sylebra Capital Partners Master Fund, LTD, Sylebra Capital PARC Master Fund and Sylebra Capital Menlo Master Fund, as lenders, and Madison Pacific Trust Limited, as administrative agent and security agent. The Sylebra Amendment (i) increases the amount available to the Company under the indebtedness covenant basket for offerings of unsecured convertible notes from $200,000,000 to $250,000,000 and (ii) makes certain changes to the restricted payments covenant and the events of default section in order to permit certain offerings of unsecured con

On August 21, 2023, PureCycle Technologies, Inc. (the “Company”) entered into that certain First Amendment to Credit Agreement (the “Pure Plastic Amendment”), which amended that certain Credit Agreement, dated as of May 8, 2023, by and among the Company, PureCycle Technologies Holdings Corp. and PureCycle Technologies, LLC, as guarantors and Pure Plastic LLC, as lender, administrative agent and security agent. The Pure Plastic Amendment (i) increases the amount available to the Company under the indebtedness covenant basket for offerings of unsecured convertible notes from $200,000,000 to $250,000,000 and (ii) makes certain changes to the restricted payments covenant and the events of default section in order to permit certain offerings of unsecured convertible notes and related transactions.