PureCycle Technologies Stock Surges 24% On $300 Mln Capital Raise And Global Expansion Plans

(RTTNews) - PureCycle Technologies, Inc. (PCT) shares jumped 23.72 percent, or $2.82, to $14.31 on Tuesday after the company announced binding agreements for a $300 million capital raise to support its ambitious plan of achieving one billion pounds of installed recycling capacity globally by 2030.

The stock opened at $13.73 and has traded between $13.50 and $15.47 so far today on the Nasdaq. Volume reached 12.22 million shares, well above the average of 2.95 million. The 52-week range stands at $4.50 to $15.58.

The funding includes investments from notable firms such as Duquesne Family Office, Samlyn Capital, and Sylebra Capital Management. PureCycle also unveiled a partnership with IRPC to build a polypropylene recycling facility in Thailand, with construction starting in the second half of 2025.