PureCycle Technologies, Inc. — Form 10-Q
Filed November 4, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
On July 9, 2026, UMB Bank, N.A. (Prior Trustee) was removed and replaced by U.S. Bank Trust Company, National Association (Successor Trustee) as trustee, paying agent, and bond registrar for $222.125 million in outstanding exempt facility revenue bonds issued by Southern Ohio Port Authority for the PureCycle project. The bonds consist of $203.845 million Series 2020A (senior), $20 million Series 2020B, and $10 million Series 2020C (subordinate). PureCycle Technologies LLC and Pure Plastic LLC, holding 82.05% of Series 2020A bonds ($167.26 million), approved the trustee change effective July 9, 2026, with interest paid current through June 1, 2026.
Why this rating
Routine trustee substitution with no operational or financial impact on PureCycle. Bond amounts (~$222M) are material to the company but trustee changes are administrative. No covenant violation, default, or business disruption disclosed.
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