PureCycle Technologies issues shares of Series B Preferred Stock
Client(s) PureCycle Technologies LLC
Jones Day represented PureCycle Technologies, Inc. in connection with the establishment, issuance, and sale of 300,000 shares of Series B Convertible Perpetual Preferred Stock, which pay dividends, in cash or in-kind, at 7%, with an initial issuance price of $1,000 per share, for an aggregate purchase price of $300 million. The sale was made to certain existing investors in transactions exempt from registration under Section 4(a)(2) of the Securities Act.