PureCycle Technologies Enters Material Definitive Agreement

TL;DR

PureCycle signed a big deal on 3/25/24, could move the stock.

AI Summary

On March 25, 2024, PureCycle Technologies, Inc. entered into a material definitive agreement related to its financial obligations. The company, formerly known as Roth CH Acquisition I Co., is incorporated in Delaware and headquartered in Orlando, Florida.

Why It Matters

This filing indicates a significant contractual development for PureCycle Technologies, potentially impacting its financial standing and operational future.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or opportunities, carrying inherent risks that depend on the specific terms not detailed here.

Key Players & Entities

• PureCycle Technologies, Inc. (company) — Registrant
• Roth CH Acquisition I Co. (company) — Former Company Name
• March 25, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• Orlando, Florida (location) — Business Address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share PCT The Nasdaq Stock Mark
• $11.50 — alue per share, at an exercise price of $11.50 per share PCTTW The Nasdaq Stock Ma
• $246,750,000 — ty company (the "Guarantor"), purchased $246,750,000 in aggregate principal amount of Bonds
• $216,750,000 — he Indenture on March 5, 2024, of which $216,750,000 in aggregate principal amount are Serie
• $22,135,956.99 — , by instructing the Trustee to release $22,135,956.99 from the Senior Bonds Debt Service Rese
• $3,261,291.24 — ior Bonds Debt Service Reserve Fund and $3,261,291.24 from the Repair and Replacement Fund, i
• $0 — nd Requirement shall each be reduced to $0, respectively, and that certain provisi

Filing Documents

• pct-20240325.htm (8-K) — 50KB
• pct-ex10_1.htm (EX-10.1) — 130KB
• 0000950170-24-035973.txt ( ) — 352KB
• pct-20240325.xsd (EX-101.SCH) — 52KB
• pct-20240325_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 7, 2020, the Southern Ohio Port Authority ("SOPA") issued certain revenue Bonds (as defined below) pursuant to an Indenture of Trust dated as of October 1, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the "Indenture"), between SOPA and UMB Bank, N.A., as Trustee ("Trustee"), and loaned the proceeds from their sale to PureCycle: Ohio LLC ("PCO"), an Ohio limited liability company and indirect wholly-owned subsidiary of PureCycle Technologies, Inc. (the "Company"), pursuant to a Loan Agreement dated as of October 1, 2020, between SOPA and PCO (as amended, restated, supplemented or otherwise modified from time to time, the "Loan Agreement") to be used to, among other things, acquire, construct and equip the Company's first commercial-scale recycling facility in Lawrence County, Ohio (the "Ironton Facility"). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Indenture. The Revenue Bonds were offered in three series, including (i) Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020A ("Series 2020A Bonds"); (ii) Subordinate Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020B ("Series 2020B Bonds"); and (iii) Subordinated Exempt Facility Revenue Bonds (PureCycle Project), Taxable Series 2020C ("Series 2020C Bonds" and, together with the Series 2020A Bonds and the Series 2020B Bonds, the "Bonds"). All of the Bonds are Outstanding under the Indenture. PureCycle Technologies LLC, a Delaware limited liability company (the "Guarantor"), purchased $246,750,000 in aggregate principal amount of Bonds Outstanding under the Indenture on March 5, 2024, of which $216,750,000 in aggregate principal amount are Series 2020A Bonds, and continues to hold all of those purchased Bonds such that the Guarantor comprises the Majority Holders. On March 25, 2024, SOPA, as Issuer, PCO, the Guarantor, PCTO Ho

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 10.1 Fourth Supplemental Indenture, effective March 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PureCycle Technologies, Inc. Date: March 25, 2024 By: /s/ Jaime Vasquez Jaime Vasquez, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR