PureCycle Technologies Nears Bond Purchase Agreement

PureCycle Technologies (PCT) has released an update.

PureCycle Technologies, Inc. has announced that its subsidiary, PureCycle: Ohio LLC, has preliminarily agreed with the majority bondholders to purchase a series of revenue bonds at a premium. This agreement also involves proposed amendments to relax certain restrictions and eliminate specific default risks tied to the bonds. The deal, which hinges on the majority’s consent and participation, aims to close by mid-February 2024, with funding provided from trust account releases and available cash.

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For a comprehensive understanding of the announcement, you can read the full document here.