10:29 AM EST, 02/05/2025 (MT Newswires) -- PureCycle Technologies ( PCT ) said Wednesday it agreed to a $33 million private placement of common shares.

Pleiad Investment Advisors is the lead investor in the transaction with participation from Sylebra Capital Management and Samlyn Capital, according to PureCycle ( PCT ).

The company said it expects to close the transaction on Thursday and funds raised will be used to bring PureCycle's ( PCT ) patented dissolution recycling process to market.

Shares of PureCycle ( PCT ) were up 7.3% in recent trading.

Price: 9.11, Change: +0.62, Percent Change: +7.30