GlobeNewsWire
15 Jun 2026, 21:27 UTC · 3h ago
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PureCycle Technologies closed concurrent public offerings of convertible senior notes and common stock, raising approximately $432.5 million in net proceeds. — A significant capital injection improves the company's liquidity position and reduces immediate bankruptcy risk.
+0.40The company will use approximately $246.3 million of the proceeds to repurchase $216.0 million of its 7.25% Green Convertible Senior Notes. — Replacing 7.25% debt with 4.75% notes reduces interest expense and improves the company's cost of capital.
+0.30The stock offering involved the issuance of 19,854,000 shares of common stock. — The issuance of new shares results in equity dilution for existing shareholders.
-0.20Which stocks this story touches
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Successfully closed public offerings totaling $432.5 million in net proceeds to strengthen its balance sheet and refinance debt.
Acted as the sole bookrunner for the offerings, generating underwriting fees.
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