PureCycle increases bond purchase price to $1,050/$1,000; eliminates key covenants

PureCycle Technologies, Inc.

Purchase price adjusted from $1,030 to $1,050 per $1,000 principal of Series 2020A Bonds.
Majority holders must consent to Proposed Amendments that remove substantial covenants, Events of Default, and protections.
Amendments eliminate Operating Revenue Escrow Fund and allow earlier release from Liquidity Reserve Escrow Fund.
PCO will reimburse trustee and bondholders for out-of-pocket costs; purchase funded from Trust Estate and cash.
If Specified Amendment passes, PCO will become Majority Holder after purchase for voting purposes.

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