Pure Cycle Acquires Full Control of Morgan Lake Property

Ticker: PCYO · Form: 8-K · Filed: 2025-01-10T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, real-estate, joint-venture

Related Tickers: PCYO

TL;DR

Pure Cycle just bought out its partner on the Morgan Lake property, now owning 100% of the 1,000-acre site.

AI Summary

Pure Cycle Corporation (PCYO) announced on January 8, 2025, that it has entered into a definitive agreement to acquire the remaining 50% interest in the company's joint venture, the Morgan Lake property, from its partner. This acquisition will give Pure Cycle full ownership of the 1,000-acre mixed-use development site located in Morgan County, Colorado.

Why It Matters

This move consolidates ownership of a significant development asset, potentially streamlining future decision-making and capital allocation for Pure Cycle Corporation.

Risk Assessment

Risk Level: medium — Acquisitions, even of joint venture interests, carry integration risks and may require significant capital, impacting the company's financial flexibility.

Key Numbers

Key Players & Entities

FAQ

What is the specific dollar amount of the acquisition for the remaining 50% interest in the Morgan Lake property?

The filing does not disclose the specific dollar amount for the acquisition of the remaining 50% interest in the Morgan Lake property.

Who is the partner from whom Pure Cycle is acquiring the remaining interest?

The filing does not name the partner from whom Pure Cycle is acquiring the remaining 50% interest in the Morgan Lake property.

What is the nature of the Morgan Lake property development?

The Morgan Lake property is described as a 1,000-acre mixed-use development site.

When did the earliest event reported in this 8-K filing occur?

The earliest event reported in this 8-K filing occurred on January 8, 2025.

What is the trading symbol for Pure Cycle Corporation?

The trading symbol for Pure Cycle Corporation is PCYO.

Filing Stats: 794 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2025-01-10 09:45:44

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On January 8, 2025, the Registrant issued a press release announcing its financial results for the three months ended November 30, 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 January 9, 2025, 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 January 8, 2025, announcing earnings for the three months ended November 30, 2024 99.2 Three months ended November 30, 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: January 10, 2025 Vice PURE CYCLE CORPORATION By: /s/ Marc S. Spezialy Marc S. Spezialy Vice President and Chief Financial Officer

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