Corporate ActionJun 10, 2026, 04:37 PM
PureCycle Launches $395M Concurrent Offerings of Notes & Stock
AI Summary
PureCycle Technologies announced the commencement of concurrent underwritten public offerings to raise capital. The offerings include $250.0 million in convertible senior notes due 2032 and $145.0 million in common stock. The company also granted underwriters options for additional purchases of $37.5 million in notes and $18.75 million in common stock. Proceeds are intended to repurchase a portion of its outstanding 7.25% green convertible notes due 2030, repurchase additional notes, and for general corporate purposes.
Key Highlights
- PureCycle commenced $250.0M public offering of convertible senior notes due 2032.
- Concurrently launched $145.0M public offering of common stock.
- Underwriters have option to purchase additional $37.5M notes.
- Underwriters have option to purchase additional $18.75M common stock.
- Net proceeds to repurchase outstanding 7.25% green convertible notes due 2030.
- Funds also allocated for working capital and general corporate purposes.
Price Impact
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