PureCycle reaches bond-buyback deal with majority holders; eliminates covenants, extends project completion to 2030

PureCycle Technologies, Inc.

PureCycle: Ohio LLC to buy bonds at $1,050 per $1,000 principal from majority holders; closing by March 4, 2024.
Third Supplemental Indenture eliminates substantially all covenants including DSCR, milestone requirements, and quarterly financial reporting.
Outside Completion Date for the recycling facility extended from Dec 2022 to Dec 31, 2030.
Purchase funded from trust estate, liquidity reserve escrow, and available cash; affiliates' bonds gain voting rights.
Bond purchase price compensates for default interest from Jan-Dec 2023; holders waive default interest from Jan 2024.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.