---
schema_version: "secwatch.filing_event.v1"
accession: "0001830033-23-000067"
form_type: "8-K"
ticker: "PCT"
cik: "0001830033"
company_name: "PureCycle Technologies, Inc."
filed_at: "2023-08-24T23:59:59+00:00"
generated_at: "2026-06-11T04:19:37.554174+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PureCycle issues $250M of 7.25% Green Convertible Notes due 2030, net proceeds $219.25M

## Summary
- $250M aggregate principal of 7.25% Green Convertible Senior Notes due 2030, issued at 90% of par ($900 per $1,000).
- Net proceeds of approx. $219.25M after discounts and fees; allocated to Augusta, GA multi-line purification facility and green projects.
- Conversion price ~$14.82/share, a ~50% premium over $9.88 closing price; holders may convert at any time before maturity.
- Entities affiliated with Sylebra Capital purchased $50M of the Notes.
- No redemption before Aug 20, 2025; thereafter redeemable if stock exceeds 130% of conversion price for 20 of 30 trading days.

## SEC filing metadata
- accession: 0001830033-23-000067
- form_type: 8-K
- ticker: PCT
- cik: 0001830033
- company_name: PureCycle Technologies, Inc.
- filed_at: 2023-08-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/0001830033-23-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/pct-20230824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001830033-23-000067
- JSON: https://secwatch.observer/filing/0001830033-23-000067.json
- Plain text: https://secwatch.observer/filing/0001830033-23-000067.txt

## Key facts
- Debt Financings
  PureCycle Technologies, Inc. incurred convertible notes of $250.0 million at 7.25% per annum maturing August 15, 2030.
  - Instrument: convertible notes
  - Principal: $250.0 million
  - Rate: 7.25% per annum
  - Maturity: August 15, 2030
  - Event: incurrence
  source text: amount of the 7.25% Green Convertible Senior Notes due 2030 (together with the “Initial Notes”, the “Notes”), bringing the total aggregate principal amount of the Notes to $250.0 million. On August 24, 2023, the Company completed the private offering of the Notes. Each $1,000 principal amount at maturity of the Notes was issued at a price of $900. An amount equal
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/0001830033-23-000067-index.htm
- Material Agreements
  PureCycle Technologies, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $250.0 million (effective 2023-08-24).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $250.0 million
  - Effective: 2023-08-24
  source text: In connection with the issuance of the Notes, the Company entered into an Indenture, dated August 24, 2023 (the “Indenture”), with U.S. Bank Trust Company, National Association, as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/0001830033-23-000067-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.