PureCycle announced through a series of transactions the sale of certain Southern Ohio Port Authority Tax-Exempt Facility Revenue Bonds. The Company sold approximately $30M in aggregate par value at a price of $880 per $1,000 of face value, to a number of investors, including Duquesne Family Office. PureCycle received approximately $27M in gross proceeds. The capital raised is expected to assist PureCycle in its efforts to continue bringing its patented dissolution recycling process to market. PureCycle continues to hold approximately $87M of salable Series A1 Southern Ohio Port Authority Revenue Bonds.
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