PureCycle Shares Fall After $395 Million Fundraise Raises Dilution Fears
PureCycle Technologies, Inc. shares dropped hard Thursday after the company landed a $395 million financing deal that brings in new capital but puts more common shares on the table and brings the risk of future conversion. The stock, which trades on Nasdaq, changed hands at $8.27, down $1.62, or roughly 16.4%. Volume jumped above 16.9 million shares, market data showed.