We advised the placement agents on the equity offering

Davis Polk advised the placement agents in connection with a private placement by PureCycle Technologies, Inc. of 300,000 shares of its Series B convertible perpetual preferred stock, par value $0.001 per share, at an initial issue price of $1,000 per share.

PureCycle Technologies, Inc. is a Florida-based corporation focused on commercializing a patented purification recycling technology originally developed by The Procter & Gamble Company for restoring waste polypropylene into resin, called ultra-pure recycled resin, which has nearly identical properties and applicability for reuse as virgin polypropylene.

The Davis Polk capital markets team included partner Yasin Keshvargar and associate Xuanling Xu. Partner Mark J. DiFiore provided equity derivatives advice. All members of the Davis Polk team are based in the New York office.

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