Short answer
PureCycle Technologies, Inc. (PCT) filed an 8-K current report with the SEC on June 15, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item EX-99.1 (Exhibit EX-99.1). $441.7M gross capital raised: $287.5M convertible notes plus 19.85M shares at $8.21.
PureCycle Technologies, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $441.7M gross capital raised: $287.5M convertible notes plus 19.85M shares at $8.21
- Net proceeds of approximately $432.5M, providing substantial liquidity for operations and strategic investment
- 4.75% notes mature July 2032, with $13.7M annual interest obligation based on $287.5M principal
- Initial conversion price approximately $11.08, creating potential future dilution above the $8.21 offering price
- $246.3M repurchase reduces 7.25% Green Notes by approximately $216.0M, lowering higher-cost debt but consuming cash
Item 2.03 · Creation of a Direct Financial Obligation
- June 15, 2026 closing of offerings created new financial obligations for PureCycle Technologies
- Portion of offering proceeds used to repurchase Green Convertible Notes
- Transaction changes debt composition and reduces a portion of outstanding convertible-note obligations
- Exhibit 99.1 contains offering terms and repurchase details critical for assessing leverage and dilution risk
Item EX-99.1 · Exhibit EX-99.1
- $432.5M net proceeds from $287.5M convertible notes and 19.854M common shares
- 4.75% notes mature July 2032, replacing higher-cost 7.25% Green Convertible Notes
- $246.3M allocated to repurchase approximately $216.0M Green Convertible Notes
- Remaining proceeds for additional debt repurchases, working capital, and general corporate purposes
- Conversion price approximately $11.08 per share, creating potential future equity dilution above that threshold
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other PureCycle Technologies, Inc. 8-K filings
Get the next PCT 8-K as it lands
Follow PCT for push alerts, or ask the research agent what this filing means.