PureCycle Announces Sale of Approximately $30 Million in Revenue Bonds
PureCycle Technologies (Nasdaq:PCT) has announced the sale of Southern Ohio Port Authority Tax-Exempt Facility Revenue Bonds worth approximately $30 million in aggregate par value. The bonds were sold at $880 per $1,000 face value to investors, including Duquesne Family Office , generating about $27 million in gross proceeds.
The raised capital will support PureCycle's efforts to commercialize its patented dissolution recycling technology for polypropylene plastic waste. The company retains approximately $87 million of salable Series A1 Southern Ohio Port Authority Revenue Bonds.
PureCycle's technology, licensed from Procter & Gamble Company, is designed to transform #5 plastic waste into PureFive™ resin through a unique purification process that removes color, odor, and other impurities, enabling multiple recycling cycles.
PureCycle Technologies (Nasdaq:PCT) ha annunciato la vendita di obbligazioni esenti da imposte della Southern Ohio Port Authority per un valore nominale complessivo di circa 30 milioni di dollari. Le obbligazioni sono state vendute a 880 dollari per ogni 1.000 dollari di valore nominale a investitori, tra cui Duquesne Family Office, generando circa 27 milioni di dollari di proventi lordi.
I capitali raccolti sosterranno gli sforzi di PureCycle per commercializzare la sua tecnologia brevettata di riciclo per dissoluzione della plastica polipropilene di scarto. L'azienda detiene ancora circa 87 milioni di dollari di obbligazioni della Serie A1 della Southern Ohio Port Authority disponibili per la vendita.
La tecnologia di PureCycle, concessa in licenza da Procter & Gamble Company, è progettata per trasformare i rifiuti plastici #5 in resina PureFive™ attraverso un processo di purificazione unico che elimina colore, odore e altre impurità, permettendo molteplici cicli di riciclo.
PureCycle Technologies (Nasdaq:PCT) ha anunciado la venta de bonos exentos de impuestos de la Southern Ohio Port Authority por un valor nominal agregado de aproximadamente 30 millones de dólares. Los bonos se vendieron a 880 dólares por cada 1,000 dólares de valor nominal a inversores, incluyendo Duquesne Family Office, generando alrededor de 27 millones de dólares en ingresos brutos.
El capital recaudado apoyará los esfuerzos de PureCycle para comercializar su tecnología patentada de reciclaje por disolución para residuos de plástico polipropileno. La compañía mantiene aproximadamente 87 millones de dólares en bonos de la Serie A1 de la Southern Ohio Port Authority disponibles para la venta.
La tecnología de PureCycle, licenciada por Procter & Gamble Company, está diseñada para transformar los residuos plásticos #5 en resina PureFive™ mediante un proceso de purificación único que elimina el color, el olor y otras impurezas, permitiendo múltiples ciclos de reciclaje.
PureCycle Technologies (Nasdaq:PCT)는 약 3,000만 달러 규모의 Southern Ohio Port Authority 세금 면제 시설 수익 채권 매각을 발표했습니다. 이 채권은 액면가 1,000달러당 880달러에 Duquesne Family Office를 포함한 투자자들에게 판매되어 약 2,700만 달러의 총 수익을 창출했습니다.
조달된 자본은 PureCycle가 특허받은 폴리프로필렌 플라스틱 폐기물 용해 재활용 기술의 상용화를 지원하는 데 사용될 예정입니다. 회사는 약 8,700만 달러 상당의 Southern Ohio Port Authority 시리즈 A1 수익 채권을 여전히 보유하고 있습니다.
Procter & Gamble Company로부터 라이선스를 받은 PureCycle의 기술은 #5 플라스틱 폐기물을 PureFive™ 수지로 변환하는 독특한 정제 과정을 통해 색상, 냄새 및 기타 불순물을 제거하여 여러 번 재활용할 수 있도록 설계되었습니다.
PureCycle Technologies (Nasdaq:PCT) a annoncé la vente d’obligations exonérées d’impôts de la Southern Ohio Port Authority d’une valeur nominale totale d’environ 30 millions de dollars. Les obligations ont été vendues à 880 dollars pour 1 000 dollars de valeur nominale à des investisseurs, dont Duquesne Family Office, générant environ 27 millions de dollars de produit brut.
Les fonds levés soutiendront les efforts de PureCycle pour commercialiser sa technologie brevetée de recyclage par dissolution des déchets plastiques en polypropylène. La société détient encore environ 87 millions de dollars d’obligations de la série A1 de la Southern Ohio Port Authority disponibles à la vente.
La technologie de PureCycle, sous licence de Procter & Gamble Company, est conçue pour transformer les déchets plastiques #5 en résine PureFive™ grâce à un procédé de purification unique qui élimine la couleur, l’odeur et autres impuretés, permettant ainsi plusieurs cycles de recyclage.
PureCycle Technologies (Nasdaq:PCT) hat den Verkauf von steuerbefreiten Anleihen der Southern Ohio Port Authority im Gesamtwert von etwa 30 Millionen US-Dollar angekündigt. Die Anleihen wurden zu 880 US-Dollar je 1.000 US-Dollar Nennwert an Investoren, darunter Duquesne Family Office, verkauft und erzielten rund 27 Millionen US-Dollar Bruttoerlös.
Das eingesammelte Kapital wird PureCycle dabei unterstützen, seine patentierte Auflösungstechnologie zur Wiederverwertung von Polypropylen-Kunststoffabfällen zu kommerzialisieren. Das Unternehmen hält weiterhin rund 87 Millionen US-Dollar verkäufliche Series A1 Southern Ohio Port Authority Revenue Bonds.
Die von Procter & Gamble Company lizenzierte Technologie von PureCycle ist darauf ausgelegt, Kunststoffabfälle der Kategorie #5 durch einen einzigartigen Reinigungsprozess, der Farbe, Geruch und andere Verunreinigungen entfernt, in PureFive™-Harz umzuwandeln und so mehrfaches Recycling zu ermöglichen.
- Secured $27 million in new funding through bond sale
- Maintains $87 million in additional salable bonds for future funding
- Holds exclusive license for P&G's patented recycling technology
- Bonds sold at 12% discount to face value ($880 per $1,000)
- Significant operational and regulatory risks highlighted in forward-looking statements
- Faces ongoing funding requirements for multiple facility developments
Insights
PureCycle raised $27M through discounted bond sale, strengthening liquidity while revealing higher capital costs and possible investor risk perception.
PureCycle has successfully executed a strategic financing maneuver, selling $30 million in Southern Ohio Port Authority Tax-Exempt Facility Revenue Bonds at $880 per $1,000 face value, generating $27 million in gross proceeds. This 12
The participation of Duquesne Family Office , founded by legendary investor Stanley Druckenmiller, adds a layer of institutional credibility to this offering. However, their willingness to invest only at this discounted rate provides a balanced market perspective on PureCycle's current risk profile.
For context, this capital raise represents approximately 2.3
This transaction effectively addresses near-term capital needs for advancing their proprietary polypropylene recycling technology but comes at the cost of higher debt service obligations. For a pre-commercial company, securing capital is critical, but the terms reflect the market's current pricing of PureCycle's risk as it works to transform its P&G-licensed technology into commercial reality.
ORLANDO, FL / ACCESS Newswire / April 22, 2025 / PureCycle Technologies, Inc. (Nasdaq:PCT), today, announced through a series of transactions the sale of certain Southern Ohio Port Authority Tax-Exempt Facility Revenue Bonds. The Company sold approximately
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
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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PureCycle Contact
Christian Bruey
cbruey@purecycle.com
Investor Relations Contact
Eric DeNatale
edenatale@purecycle.com
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented dissolution recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as #5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from #5 plastic waste resulting in our PureFive™ resin that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the continued execution of PureCycle's business plan, the expected timing of commercial sales, and planned future updates. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally relate to future events or PureCycle's future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions (or the negative versions of such words or expressions), but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of PureCycle's management and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled "Risk Factors" in each of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and those discussed and identified in other public filings made with the Securities and Exchange Commission by PureCycle and the following: PCT's ability to obtain funding for its operations and future growth and to continue as a going concern; PCT's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PCT's PureFive™ resin in food grade applications (including in the United States, Europe, Asia and other future international locations); PCT's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the PureFive™ resin and PCT's facilities (including in the United States, Europe, Asia and other future international locations); expectations and changes regarding PCT's strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PCT's ability to invest in growth initiatives which could be impacted by significant changes to tariffs on foreign imports into the United States; the ability of PCT's first commercial-scale recycling facility in Lawrence County, Ohio (the "Ironton Facility") to be appropriately certified by Leidos, following certain performance and other tests, and commence full-scale commercial operations in a timely and cost-effective manner or at all; PCT's ability to meet, and to continue to meet, the requirements imposed upon it and its subsidiaries by the funding for its operations, including the funding for the Ironton Facility; PCT's ability to minimize or eliminate the many hazards and operational risks at its manufacturing facilities that can result in potential injury to individuals, disrupt its business (including interruptions or disruptions in operations at its facilities), and subject PCT to liability and increased costs; PCT's ability to complete the necessary funding with respect to, and complete the construction of, (i) its first U.S. multi-line facility, located in Augusta, Georgia, and (ii) its first commercial-scale European plant located in Antwerp, Belgium, in a timely and cost-effective manner; PCT's ability to procure, sort and process polypropylene plastic waste at its planned plastic waste prep facilities; PCT's ability to maintain exclusivity under the Procter & Gamble Company license; the implementation, market acceptance and success of PCT's business model and growth strategy; the success or profitability of PCT's offtake arrangements; the ability to source feedstock with a high polypropylene content at a reasonable cost; PCT's future capital requirements and sources and uses of cash; developments and projections relating to PCT's competitors and industry; the outcome of any legal or regulatory proceedings to which PCT is, or may become, a party including the securities class action and putative class action cases; geopolitical risk and changes in applicable laws or regulations; the possibility that PCT may be adversely affected by other economic, business, and/or competitive factors, including interest rates, availability of capital, economic cycles, and other macro-economic impacts; turnover in employees and increases in employee-related costs; changes in the prices and availability of labor (including labor shortages), transportation and materials, including inflation, supply chain conditions and its related impact on energy and raw materials, and PCT's ability to obtain them in a timely and cost-effective manner; any business disruptions due to political or economic instability, pandemics, armed hostilities (including the ongoing conflict between Russia and Ukraine and the conflict in the Middle East); the potential impact of climate change on PCT, including physical and transition risks, higher regulatory and compliance costs, reputational risks, and availability of capital on attractive terms; and operational risk.
PCT undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Should one or more of these risks or uncertainties materialize or should any of the assumptions made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events.
SOURCE: PureCycle Technologies
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FAQ
How much did PureCycle (PCT) raise in its recent bond sale?
What will PureCycle use the bond sale proceeds for?
How much in salable Series A1 bonds does PCT still hold?
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