PureCycle launches $250M convertible notes and $145M stock offerings

PureCycle Technologies Inc. (NASDAQ: PCT) announced concurrent public offerings of $250 million in convertible senior notes due 2032 and $145 million in common stock shares.

The company granted underwriters 30-day options to purchase additional securities, including up to $37.5 million in additional notes and $18.75 million in additional common stock shares to cover over-allotments.

The convertible notes will be unsecured obligations with interest paid semiannually. The interest rate, conversion rate and other terms will be determined at pricing.

PureCycle plans to use net proceeds from both offerings to repurchase a portion of its outstanding 7.25% green convertible notes due 2030 through private transactions, repurchase additional green convertible notes over time, and fund working capital and general corporate purposes.

Morgan Stanley serves as sole bookrunner for both offerings. The offerings are conducted under an automatically effective shelf registration statement filed with the Securities and Exchange Commission on June 10, 2026.

PureCycle Technologies operates a patented dissolution recycling technology licensed from Procter & Gamble Company that transforms polypropylene plastic waste into reusable resin.

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