PureCycle Announces Pricing of Concurrent Public Offerings of 4.75% Convertible Senior Notes Due 2032 and Common Stock with Aggregate Gross Proceeds of $395.0 Million

ORLANDO, June 11, 2026 (GLOBE NEWSWIRE) -- PureCycle Technologies, Inc. (“PureCycle” or “we,” “our” or “us”) (Nasdaq: PCT) today announced the pricing of its previously announced underwritten public offerings of $250.0 million aggregate principal amount of its 4.75% convertible senior notes due 2032 (the “notes” and such offering, the “Notes Offering”), and, concurrently, 17,661,388 shares of its common stock, par value $0.001 per share (the “common stock”; such offering, the “Common Stock Offering” and, together with the Notes Offering, the “Offerings”), at a public offering price of $8.21 per share, for aggregate gross proceeds of $395.0 million. In addition, PureCycle has granted (i) the underwriters in the Notes Offering a 30-day option to purchase up to an additional $37.5 million aggregate principal amount of notes, solely to cover over-allotments, and (ii) the underwriters in the Common Stock Offering a 30-day option to purchase up to an additional 2,283,800 shares of common stock.

Subject to the satisfaction of customary closing conditions, the Offerings are expected to close on or about June 15, 2026. Neither the closing of the Notes Offering nor the closing of the Common Stock Offering is conditioned upon the closing of the other offering.

PureCycle estimates that the net proceeds from the Notes Offering will be approximately $242.0 million (or approximately $278.3 million if the underwriters of the Notes Offering exercise their over-allotment option in full), after deducting underwriting discounts and commissions and PureCycle’s estimated offering expenses. PureCycle estimates that the net proceeds from the Common Stock Offering will be approximately $137.1 million (or approximately $154.9 million if the underwriters of the Common Stock Offering exercise their option to purchase additional shares in full), after deducting underwriting discounts and commissions and PureCycle’s estimated offering expenses.

PureCycle expects to use the net proceeds from the Notes Offering, together with the net proceeds from the Common Stock Offering, (i) to pay the approximately $246.3 million cost of repurchasing for cash approximately $216.0 million in aggregate principal amount at maturity of PureCycle’s outstanding 7.25% green convertible notes due 2030 (the “Green Convertible Notes”) in privately negotiated transactions, (ii) to repurchase additional Green Convertible Notes from time to time, and (iii) for working capital and other general corporate purposes.

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