Recent Updates — PCTTW
PureCycle Technologies executed a twelfth amendment to its revolving credit agreement with Sylebra Capital Partners and Menlo Master Fund. The amendment extends the facility's maturity date from September 30, 2027, to September 30, 2028, and requires the payment of a maturity extension fee. The lenders are greater than 5% beneficial owners of the company. PureCycle Technologies operates in the recycling industry, specifically focusing on purifying polypropylene plastic.
PureCycle Technologies reported second quarter 2026 financial results on August 6, 2026, with revenue of $4.5 million, a 173% year-over-year increase and sixth consecutive quarter of sequential growth. The company achieved net loss of $142.2 million compared to $144.2 million in the prior year period, while operating loss improved to $41.3 million from $45.6 million. Total liquidity strengthened to $236.9 million following a June capital raise that generated approximately $432.0 million in net proceeds from convertible senior notes and common stock offerings. Commercially, PureCycle began first Procter & Gamble commercial resin deliveries for Downy detergent caps and secured New Jersey Department of Environmental Protection approval for its PureFive resin as post-consumer recycled content. The Ironton facility turnaround was completed ahead of schedule and below budget, with on-site compounding now operating to meet specific customer specifications. PureCycle Technologies operates in the plastic recycling industry, utilizing patented dissolution technology to convert polypropylene waste into high-quality recycled resin.
PureCycle Technologies, Inc. completed two major offerings on June 15, 2026, raising approximately $278.3 million through the sale of $287.5 million in 4.75% convertible senior notes due 2032 and approximately $154.2 million through a public common stock offering of 19,854,000 shares. The company simultaneously entered into agreements to repurchase approximately $216.0 million in principal of its outstanding 7.25% Green Convertible Senior Notes due 2030 for $246.3 million in cash. These transactions are expected to reduce the outstanding Green Convertible Notes to approximately $34.0 million. PureCycle Technologies, Inc. is a technology company focused on recycling processes.
On June 10, 2026, PureCycle Technologies announced concurrent underwritten public offerings of $250.0 million in convertible senior notes due 2032 and $145.0 million of common stock. To facilitate these offerings, the company executed the Eleventh Amendment to its Revolving Credit Agreement with Sylebra Capital Partners and other lenders, which permits the offerings and removes certain secured obligations related to Series A Preferred Stock, Series C Warrants, and Pre-Funded Warrants. The company also provided updated risk factor disclosures. PureCycle Technologies operates in the plastics recycling industry, focusing on the purification of waste polypropylene.