PureCycle Provides Corporate Update; Reached Agreement On Sale Of $22.5M Notional Amount Of Its Southern Ohio Port Authority Revenue Bonds
Portfolio Pulse from Benzinga Newsdesk
PureCycle has reached an agreement to sell $22.5 million in Southern Ohio Port Authority Revenue Bonds, generating $18 million in cash proceeds. The company ended Q2 FY2024 with $10.9 million in unrestricted cash.
August 08, 2024 | 11:58 am
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PureCycle has sold $22.5 million in Southern Ohio Port Authority Revenue Bonds, resulting in $18 million in cash proceeds. The company ended Q2 FY2024 with $10.9 million in unrestricted cash.
The sale of the bonds will provide PureCycle with significant cash proceeds, improving its liquidity position. This is likely to be viewed positively by investors, potentially boosting the stock price in the short term.
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