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PureCycle Starts $250 Million Convertible Notes Offering, $145 Million Stock Sale

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PureCycle Technologies (PCT) said late Wednesday it launched public offerings of $250 million of convertible senior notes due 2032 and $145 million of common shares.

The company will grant underwriters 30-day overallotment options to buy up to an additional $37.5 million of the notes and $18.75 million of the shares.

Net proceeds will be used to repurchase a portion of PureCycle's 7.25% green convertible notes due 2030, buy back additional green notes, and for general corporate purposes.

PureCycle shares fell 11% in after-hours trading.

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