PureCycle Technologies (PCT) just unveiled an update.
PureCycle Technologies is set to engage investors with a presentation on May 7, 2024, building upon their financial maneuvers since 2020 when the Southern Ohio Port Authority issued revenue bonds to fund the construction of their Ironton Facility. Recently, PureCycle’s subsidiary agreed to sell a significant portion of these bonds to Pure Plastic LLC for a mix of debt prepayment and cash. This deal may lead to amendments in bondholder actions and financial covenants, reflecting an ongoing strategic financial restructuring. Additionally, the company is preparing to issue warrants to Pure Plastic as part of a prepayment premium for an existing term loan, emphasizing the evolving partnership between the two entities.
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