PureCycle announced through a series of transactions the sale of certain Southern Ohio Port Authority Tax-Exempt Facility Revenue Bonds. The Company sold approximately $30M in aggregate par value at a price of $880 per $1,000 of face value, to a number of investors, including Duquesne Family Office. PureCycle received approximately $27M in gross proceeds. The capital raised is expected to assist PureCycle in its efforts to continue bringing its patented dissolution recycling process to market. PureCycle continues to hold approximately $87M of salable Series A1 Southern Ohio Port Authority Revenue Bonds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCT:
- PureCycle Technologies call volume above normal and directionally bullish
- Positive Outlook for PureCycle Technologies: Key Milestones and Strategic Partnerships Drive Buy Rating
- PureCycle Technologies announces preliminary court approval of settlement
- PureCycle Technologies reports preliminary court approval of derivative lawsuit
- PureCycle Technologies Reports Progress in Plastic Recycling