PureCycle Technologies Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
PCT$2.13+3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders' Equity
| Common stock | ||||||
|---|---|---|---|---|---|---|
| (in thousands) | Shares | Amount | Additional paid-in capital | Accumulated other comprehensive (loss) income | Accumulated deficit | Total stockholders' equity |
| Balance, December 31, 2023 | 164,279 | $164 | $764,344 | $(32) | $(344,240) | $420,236 |
| Issuance of common stock | 8,545 | 9 | 38,716 | — | — | 38,725 |
| Share repurchase | (235) | — | (1,618) | — | — | (1,618) |
| Equity-based compensation | 977 | 1 | 11,807 | — | — | 11,808 |
| Reclassification of liability classified warrants to equity | — | — | 324 | — | — | 324 |
| Unrealized gain on available for sale debt securities | — | — | — | 18 | — | 18 |
| Cumulative translation adjustment | — | — | — | 92 | — | 92 |
| Net loss | — | — | — | — | (289,136) | (289,136) |
| Balance, December 31, 2024 | 173,566 | $174 | $813,573 | $78 | $(633,376) | $180,449 |
| Common stock | ||||||
|---|---|---|---|---|---|---|
| (in thousands) | Shares | Amount | Additional paid-in capital | Accumulated other comprehensive (loss) income | Accumulated deficit | Total stockholders' equity |
| Balance, December 31, 2022 | 163,550 | $164 | $753,885 | $(641) | $(242,525) | $510,883 |
| Forfeiture of restricted stock | (1) | — | — | — | — | — |
| Share repurchase | (187) | — | (1,370) | — | — | (1,370) |
| Equity-based compensation | 917 | — | 11,829 | — | — | 11,829 |
| Unrealized gain on available for sale debt securities | — | — | — | 623 | — | 623 |
| Cumulative translation adjustment | — | — | — | (14) | — | (14) |
| Net loss | — | — | — | — | (101,715) | (101,715) |
| Balance, December 31, 2023 | 164,279 | $164 | $764,344 | $(32) | $(344,240) | $420,236 |
| Common stock | ||||||
|---|---|---|---|---|---|---|
| (in thousands) | Shares | Amount | Additional paid-in capital | Accumulated other comprehensive (loss) income | Accumulated deficit | Total stockholders' equity |
| Balance, December 31, 2021 | 127,647 | $128 | $539,423 | $(237) | $(157,779) | $381,535 |
| Issuance of Common Stock | 35,714 | 35 | 205,261 | — | — | 205,296 |
| Forfeiture of restricted stock | (33) | — | — | — | — | — |
| Share repurchase | (212) | — | (1,639) | — | — | (1,639) |
| Equity-based compensation | 434 | 1 | 10,840 | — | — | 10,841 |
| Unrealized loss on available for sale debt securities | — | — | — | (404) | — | (404) |
| Net loss | — | — | — | — | (84,746) | (84,746) |
| Balance, December 31, 2022 | 163,550 | 164 | 753,885 | (641) | (242,525) | 510,883 |
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net loss | $(289,136) | $(101,715) | $(84,746) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Equity-based compensation | 11,653 | 11,829 | 10,840 |
| Change in fair value of warrants | 71,610 | (33,824) | 5,842 |
| Depreciation expense | 31,320 | 15,935 | 3,613 |
| Amortization of debt issuance costs and debt discounts | 16,618 | 2,534 | 1,004 |
| Accretion of discount on debt securities | (330) | 1,554 | (432) |
| Operating lease amortization expense | 3,388 | 2,923 | 1,596 |
| Deferred taxes | (79) | 650 | — |
| Loss on extinguishment of debt | 21,214 | — | — |
| Impairment of operating right-of-use asset | 757 | — | — |
| Change in fair value of put option liability | (1,894) | — | — |
| Changes in operating assets and liabilities | |||
| Prepaid expenses and other current assets | (3,220) | (4,397) | (1,906) |
| Prepaid expenses and other non-current assets | 220 | 711 | 52 |
| Inventory | (3,295) | (4,476) | (265) |
| Accounts payable | 4,777 | 418 | 85 |
| Accrued expenses | (4,375) | 4,045 | 1,201 |
| Accrued interest | (1,136) | 11,207 | — |
| Operating right-of-use liabilities | (2,918) | (2,300) | (2,362) |
| Net cash used in operating activities | $(144,826) | $(94,906) | $(65,478) |
| Cash flows from investing activities | |||
| Purchase of property, plant & equipment | (55,584) | (153,899) | (287,189) |
| Purchase of debt securities, available for sale | (30,586) | (57,575) | (192,388) |
| Sale and maturity of debt securities, available for sale | 79,161 | 109,371 | 261,190 |
| Net cash used in investing activities | $(7,009) | $(102,103) | $(218,387) |
| Cash flows from financing activities | |||
| Payment to purchase revenue bonds | (253,230) | — | — |
| Proceeds from issuance of revenue bonds to related parties | 40,000 | — | — |
| Proceeds from issuance of revenue bonds | 8,000 | — | — |
| Proceeds from issuance of common stock | 38,203 | — | 206,071 |
| Proceeds from issuance of warrants | 30,050 | — | 43,929 |
| Proceeds from issuance of preferred shares, inclusive of put option | 21,840 | — | — |
| Proceeds from other borrowings | 5,191 | — | — |
| Proceeds from convertible note offering | — | 225,000 | — |
| Proceeds from related party note payable | — | 38,000 | — |
| Proceeds from equipment lease financing | 12,932 | 22,101 | — |
| Convertible note payable issuance costs | — | (6,498) | — |
| Related party note payable issuance costs | — | (2,100) | — |
| Debt issuance costs | (1,119) | (2,450) | — |
| Payments to repurchase shares | (1,618) | (1,370) | (1,639) |
| Common stock issuance costs | — | — | (775) |
| Payments on equipment financing | (5,501) | (592) | — |
| Payments on related party revenue bonds | (980) | — | — |
| Other payments for financing activities | (2,936) | (91) | (56) |
| Net cash (used in) provided by financing activities | $(109,168) | $272,000 | $247,530 |
| Net (decrease) increase in cash and restricted cash | (261,003) | 74,991 | (36,335) |
| Cash and restricted cash, beginning of period | 302,514 | 227,523 | 263,858 |
| Cash and restricted cash, end of period | $41,511 | $302,514 | $227,523 |
| Supplemental disclosure of cash flow information | |||
| Operating activities | |||
| Interest paid during the period, net of capitalized interest | $42,353 | $13,862 | $1,300 |
| Non-cash investing activities | |||
| Additions to property, plant, and equipment in accrued expenses | $33,286 | $21,947 | $26,386 |
| Additions to property, plant, and equipment in accounts payable | $699 | $1,592 | $817 |
| Additions to property, plant, and equipment in accrued interest | $— | $— | $1,424 |
| Non-cash financing activities | |||
| PIK interest on related party note payable | $1,938 | $3,125 | $— |
| Initial fair value of warrant liability issued to satisfy shareholder loan prepayment penalty | $6,802 | $— | $— |
| Carrying value of warrant liability issued to satisfy shareholder loan prepayment penalty | $44,386 | $— | $— |
| Reconciliation of cash, cash equivalents reported in the consolidated balance sheet | |||
| Cash and cash equivalents | $15,683 | $73,411 | $63,892 |
| Restricted cash and cash equivalents - current | 16,656 | 25,692 | 68,850 |
| Restricted cash and cash equivalents - non-current | 9,172 | 203,411 | 94,781 |
| Total cash, cash equivalents and restricted cash | $41,511 | $302,514 | $227,523 |
PureCycle Technologies LLC
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.