PureCycle Starts $250 Million Convertible Notes Offering, $145 Million Stock Sale
MT Newswires Live
Jun 11
PureCycle Technologies (PCT) said late Wednesday it launched public offerings of $250 million of convertible senior notes due 2032 and $145 million of common shares.
The company will grant underwriters 30-day overallotment options to buy up to an additional $37.5 million of the notes and $18.75 million of the shares.
Net proceeds will be used to repurchase a portion of PureCycle's 7.25% green convertible notes due 2030, buy back additional green notes, and for general corporate purposes.
PureCycle shares fell 11% in after-hours trading.
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