15 Most Promising Small-Cap Industrial Stocks Under $10

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11. PureCycle Technologies Inc. (NASDAQ:PCT)

PureCycle Technologies Inc. (NASDAQ:PCT) is one of the 15 most promising small-cap industrial stocks under $10.

On June 12, the price target on PureCycle Technologies Inc. (NASDAQ:PCT) was reduced from $14 to $13 by Northland. The firm maintained an Outperform rating on the stock after factoring in the current week’s $395M in capital raises into its estimates.

According to the firm, PureCycle appears to be exhibiting decent progress with four back-to-back quarters of impressive revenue growth, and the firm anticipates an increased growth momentum in the latter half of the year.

On June 11, PureCycle Technologies Inc. (NASDAQ:PCT) announced the pricing of its previously announced underwritten public offerings, comprising 17,661,388 shares of ordinary stock priced at $8.21 per share. It involves a total principal amount of $250 million of 4.75% convertible senior notes scheduled to expire in 2032.

The total capital raised from the offers is anticipated to be around $395 million. Additionally, the company gave the underwriters of the notes offering a 30-day option to buy up to an additional $37.5 million in principal notes to wrap over-allotments. Besides that, the underwriters of the common stock offering will also have a 30-day option to buy as many as 2,283,800 more shares of common stock.

PureCycle Technologies Inc. (NASDAQ:PCT) uses its patented solvent-based purification technology to recycle waste polypropylene into recycled resin. This technology allows them to separate color, odor, and other contaminants from the plastic waste, making it a renewable source for companies.

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