PureCycle Technologies raises $90m through series of transactions [Yahoo! Finance]
PureCycle Technologies, Inc. - Common stock (PCT)
Company Research
Source: Yahoo! Finance
The capital infusion is aimed at advancing PureCycle's mission to commercialise its purification process for recycled polypropylene (PP). The financing, secured via a series of transactions, comprises a $50m issuance of Series A preferred stock with a three-year maturity and an 8% return, alongside the sale of 8.5 million shares of common stock at $4.69 per share, resulting in net proceeds of $40m. In addition, warrants to purchase five million shares of common stock at $11.50 per share, expiring on 1 December 2030, have been issued. The transactions, which are anticipated to close tomorrow (13 September), also extend Sylebra Capital's $200m line of credit until 31 March 2026. PureCycle CEO Dustin Olson said: "This capital not only supports our existing operations, but will also help fund additional activities associated with our Augusta project. This investment combined with the progress we are seeing on our production and commercialisation efforts at the Ironton Facility sh
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PCT
News
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its price target raised by analysts at TD Cowen from $10.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its "overweight" rating re-affirmed by analysts at Cantor Fitzgerald. They now have a $14.00 price target on the stock.MarketBeat
- PureCycle Technologies, Inc. (NASDAQ: PCT) had its price target raised by analysts at Stifel Nicolaus from $8.00 to $15.00. They now have a "buy" rating on the stock.MarketBeat
- PureCycle Technologies Inc (PCT) Q3 2024 Earnings Call Highlights: Record Production Growth and ... [Yahoo! Finance]Yahoo! Finance
- PureCycle Technologies, Inc. (PCT): Among the Best Recycling Stocks to Buy According to Hedge Funds [Yahoo! Finance]Yahoo! Finance
PCT
Earnings
- 5/7/24 - Miss
PCT
Sec Filings
- 11/20/24 - Form S-3
- 11/15/24 - Form 10-Q
- 11/13/24 - Form NT
- PCT's page on the SEC website