PureCycle Announces Closing of Concurrent Public Offerings of Convertible Senior Notes and Common Stock
PureCycle closed concurrent public offerings of $287.5 million in 4.75% convertible senior notes due 2032 and 19.85 million shares of common stock, resulting in aggregate net proceeds of approximately $432.5 million. The company plans to use $246.3 million of the proceeds to repurchase $216.0 million aggregate principal amount of its existing 7.25% Green Convertible Notes due 2030, a move that lowers its cost of capital and extends debt maturities.
Key figures
- Deal Value Usd
- 432500000
- Shares Offered
- 19854000
- Notes coupon
- 4.75%
- Notes maturity
- 2032
- Notes principal
- $287.5 million
- Conversion price
- $11.08
- Green notes coupon
- 7.25%
- Green notes maturity
- 2030
- Green notes repurchased principal
- $216.0 million
AI analysis
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