secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0001830033-23-000067
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/0001830033-23-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000067/pct-20230824.htm
  HTML page:      https://secwatch.observer/filing/0001830033-23-000067

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