Transaction Highlights - PureCycle is raising $300 million through a perpetual preferred offering with new and existing investors[7] - The capital raise aims to unlock a path to 1 billion pounds of installed capacity and $600 million in annual EBITDA by 2030[7] - The company expects the offering to de-risk the balance sheet and open additional capital sources exceeding capital expenditures by over $300 million during the investment period[7, 21] Capacity Expansion and Timeline - The company plans to reach approximately 1 billion pounds of installed capacity by the end of 2029[11] - Thailand facility (130 million pounds capacity) is expected to be operational by mid-2027[7, 11] - Antwerp facility (130 million pounds capacity) is expected to be operational by mid-2028[11] - Augusta Gen 2 Line 1 (300+ million pounds capacity) is targeted for commissioning in Q1 2029[18] - A second Gen 2 line (300+ million pounds capacity) is planned for either Thailand or Augusta, targeted for operation in Q3 2029[7, 13] Cost and Efficiency Improvements - The Thailand project is expected to have operating costs 40% below Ironton's[7, 11] - Future Gen 2 designs are projected to have operating costs approximately 50% below Ironton's[7, 11] - Capital expenditure for future Gen 2 lines is estimated to be less than $2 per pound[11] IRPC Partnership (Thailand) - PureCycle is partnering with IRPC, a Thai polyolefin producer, leveraging their existing infrastructure[7, 17] - IRPC holds approximately 31% local market share in Thailand[17] - The Thailand site will have a capacity of 130 million pounds per year[7]