PureCycle Technologies (PCT) has released an update.
PureCycle Technologies’ subsidiary PureCycle: Ohio LLC has agreed with the majority bondholders to increase the purchase price of their revenue bonds from $1,030 to $1,050 per $1,000 principal amount. This adjustment is contingent upon bondholders’ consent to amendments that will, among other changes, reduce covenants and allow easier access to operational revenues and liquidity reserves. The successful purchase also requires the reimbursement of bondholders’ expenses and could shift majority voting rights to PureCycle: Ohio following the transaction.
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