Banking Recap

PureCycle Technologies, Inc. to Be Acquired

PureCycle Technologies, a polypropylene-recycling technology company, completed a business combination with Roth CH Acquisition I Co., a special-purpose acquisition company (SPAC), to become a publicly listed company. The transaction was intended to fund expansion of PureCycle's recycling capacity beyond its Ironton, Ohio facility.

Mar 22, 2021·SEC EDGAR (8-K)·pending regulatory·SPAC business combination

The deal is sourced from an 8-K exhibit filed by PureCycle Technologies, Inc. on March 22, 2021, describing the completed combination with commentary from company leadership on the strategic rationale.

Perella Weinberg Partners served as one of two financial advisors to PureCycle, alongside Oppenheimer & Co. Inc., per the release: "Perella Weinberg Partners and Oppenheimer & Co. Inc. acted as financial advisors to PureCycle." No financial advisor is named for Roth CH, the SPAC counterparty, in the reviewed excerpt.

Jones Day served as legal advisor to PureCycle, and Loeb & Loeb served as legal advisor to Roth CH.

The reviewed excerpt did not disclose the aggregate transaction value, the trust size of the SPAC, or the pro forma equity value of the combined company; these figures were not present in the portion of the filing captured.

Not disclosed in the reviewed source: the deal's implied enterprise value, PIPE financing size (if any), ownership split between legacy PureCycle holders and SPAC public shareholders, and the specific lead-versus-co-advisor roles of Perella Weinberg and Oppenheimer. A fuller S-4/proxy statement for the combination would be needed to source these figures accurately.