PureCycle Announces Closing of Concurrent Public Offerings of Convertible Senior Notes and Common Stock

PureCycle Technologies closed concurrent public offerings of $287.5 million in 4.75% convertible senior notes due 2032 and 19.85 million shares of common stock, raising approximately $432.5 million in net proceeds. The company plans to use $246.3 million to repurchase $216 million of its higher-yielding 7.25% Green Convertible Senior Notes due 2030, with remaining proceeds for additional repurchases and general corporate purposes.