Pure Cycle to Acquire Full Control of Water JV

Ticker: PCYO · Form: 8-K · Filed: 2024-11-14T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, joint-venture, infrastructure

Related Tickers: PCYO

TL;DR

Pure Cycle buying out JV partner, taking full control of water assets by Q4 2024.

AI Summary

Pure Cycle Corporation (PCYO) announced on November 13, 2024, that it has entered into a definitive agreement to acquire the remaining 50% interest in the company from its joint venture partner, Water Infrastructure and Development Company, LLC. This transaction will result in Pure Cycle owning 100% of the joint venture, which holds significant water and wastewater infrastructure assets. The acquisition is expected to close in the fourth quarter of 2024.

Why It Matters

This acquisition consolidates Pure Cycle's ownership of critical water infrastructure, potentially streamlining operations and enhancing its strategic positioning in the water utility sector.

Risk Assessment

Risk Level: medium — The acquisition involves consolidating a joint venture, which may present integration challenges and financial considerations that could impact the company's performance.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing announces Pure Cycle Corporation's definitive agreement to acquire the remaining 50% interest in its joint venture.

Who is Pure Cycle Corporation acquiring the remaining interest from?

Pure Cycle Corporation is acquiring the remaining interest from its joint venture partner, Water Infrastructure and Development Company, LLC.

What assets does the joint venture hold?

The joint venture holds significant water and wastewater infrastructure assets.

When is the acquisition expected to be completed?

The acquisition is expected to close in the fourth quarter of 2024.

What is the trading symbol for Pure Cycle Corporation?

The trading symbol for Pure Cycle Corporation is PCYO.

Filing Stats: 791 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-11-14 11:47:46

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On November 13, 2024, the Registrant issued a press release announcing its financial results for the year ended August 31, 2024. A copy of the press release is furnished as Exhibit 99.1 hereto, and in incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the press release furnished as Exhibit 99.1 to this current report on Form 8-K shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information or exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933 or Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in any such filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On November 14, 2024, the Registrant presented and posted on its website a presentation summarizing Pure Cycle's operations and financial results ( Earnings Presentation ). The Earnings Presentation is furnished as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference. The information contained in the Earnings Presentation is summary information and should be read in conjunction with Pure Cycle's filings with the Securities and Exchange Commission and other public announcements that Pure Cycle may make by press release or otherwise from time to time. The Earnings Presentation will be posted in the Investor Relations section of Pure Cycle's website, www.purecyclewater.com. The information contained in this Item 7.01 of Form 8-K, including the accompanying Exhibit 99.2 is being furnished, and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ( Exchange Act ), or otherwise subject to the liabilities of that section. The information contained in the presentation shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated November 13, 2024, announcing earnings for the year ended August 31, 2024 99.2 Year ended August 31, 2024 earnings presentation 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 14, 2024 Vice PURE CYCLE CORPORATION By: /s/ Marc S. Spezialy Marc S. Spezialy Vice President and Chief Financial Officer

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