PureCycle Technologies, Inc. 8-K

What Happened

• PureCycle Technologies, Inc. filed an 8-K on June 11, 2026 reporting that on June 10, 2026 it launched plans for concurrent underwritten public offerings of $250.0 million aggregate principal of convertible senior notes due 2032 and $145.0 million of common stock (together, the “Offerings”).
• On June 10, 2026 the company and its lenders executed a Limited Consent and Eleventh Amendment to the Revolving Credit Agreement (the “Eleventh Amendment”), which (among other things) permits the Offerings and removes certain obligations related to the company’s Series A preferred stock and certain warrants from the list of secured obligations. The Revolving Credit Facility is for up to $200 million.

Key Details

• Offerings: $250.0 million of convertible senior notes due 2032 and $145.0 million of common stock (concurrent offerings).
• Credit amendment: Eleventh Amendment executed June 10, 2026 to the existing Revolving Credit Agreement (originally dated March 15, 2023) that allows the Offerings and removes certain Series A preferred and warrant obligations as secured.
• Lenders: The lenders (Sylebra Capital funds) and their affiliates are beneficial owners of more than 5% of the company.
• Filings & disclosures: Press release announcing the Offerings (Exhibit 99.1) and updated risk factor disclosures (Exhibit 99.2) were included with the 8-K.

Why It Matters

• The planned offerings will raise new capital but also create a new debt obligation (convertible notes) and dilute existing equity if shares are issued—key items for investors to monitor.
• The credit amendment clears certain collateral restrictions to enable the Offerings, which indicates the company secured lender consent to proceed.
• Because the lenders are also significant shareholders (>5%), their consent may reflect alignment with management’s financing plan; updated risk factors were filed to ensure investors get current disclosure about related risks.