Pure Cycle (NASDAQ:PCYO) announced that Sky Ranch Community Authority Board (Sky Ranch CAB) has successfully completed a $21.9 million municipal bond refinancing. This refinancing resulted in net proceeds of $10.1 million after repayment of 2019 debt and expenses. The 2024 Notes include $18,585,000 of tax-exempt senior notes and $3,307,000 of subordinated notes. Pure Cycle received $10.1 million in partial public improvement reimbursement for the Sky Ranch Master Planned Community. The total amount of municipal bonds issued by Sky Ranch CAB now stands at $51.4 million, reflecting the community’s strong performance.
Pure Cycle (NASDAQ:PCYO) reports that Sky Ranch Community Authority (Sky Ranch CAB) has completed a $21.9 million urban project. Portrait with $10.1 million Proventi Network in 2019. Compensation for 2024 includes $18,585 million in senior compensation and $3,307 million in junior compensation. Pure Cycle is providing $10,100,000 in funding for the Sky Ranch master-planned community. The Sky Ranch CAB totals $51.4 million and is a testament to community performance.
Pure Cycle (NASDAQ:PCYO) announced that Sky Ranch Neighborhood Association (Sky Ranch CAB) has completed $21.9 million in municipal financing. In 2019, Gustos reports annual revenues of $10.1 million. Bonuses for 2024 include a senior bonus of 18,585 million yen and a subordinate bonus of 3,307 million yen. Pure Cycle has earned 10,10,000 yen in public funds through Sky Ranch’s joint project. The Sky Ranch CAB’s total municipal value is $51.4 million, with community funding available.
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Pure Cycle (NASDAQ:PCYO) reports on Sky Ranch CAB’s (Sky Ranch CAB) refinancing of $21.9 million in municipal debt. Refinancing totaling $10.1 million in debt payments since 2019. Total debt in 2024 includes $18,585 million of senior debt and $3,307 million of subordinated debt. Pure Cycle publicly provides $10.1 million in relief against Sky Ranch. Sky Ranch CAB’s total municipal obligation is $51.4 million, reflecting the community’s solid performance.
Pure Cycle (NASDAQ:PCYO) is acquiring the Sky Ranch Community Authority (Sky Ranch CAB) for a fee of US$21.9 million. In 2019, Kosten’s net income reached USD 10.1 million. Die Anleihen von 2024 umfassen steuerfreien Senior-Anleihen 18,585 million USD, nachrangigen Anleihen 3,307 million USD. Pure Cycle can get $10.1 million in Sky Ranch master-planned community. Sky Ranch CAB had an issuance of US$51.4 million, which was very broad.
positive
Received $10.1 million in redemptions through bond refinancing Successfully issued bonds at competitively low interest rates despite market fluctuations Total municipal bond issuance reached $51.4 million, demonstrating strong community strength strong performance reported strong demand for entry-level housing in Sky Ranch
insight
The $10.1 million refinance repayment significantly strengthens Pure Cycle’s balance sheet and validates its business model. Our success in issuing investment grade bonds at competitive interest rates in a volatile market demonstrates strong investor confidence in the Sky Ranch development project. Total municipal bond issuance reached $51.4 million, indicating significant progress in infrastructure investment and development.
The company’s vertical integration across water services, land development and rental properties creates multiple revenue streams and operational synergies. This refinancing provides immediate capital that can be reinvested in ongoing development stages, potentially accelerating growth and future redemptions. Sky Ranch’s continued strong demand for entry-level homes suggests sustainable development momentum despite broader market challenges.
October 30, 2024 – 4:15 p.m.
DENVER, CO / ACCESSWIRE / October 30, 2024 / Pure Cycle Corporation (NASDAQ Capital Market:PCYO) announces that Sky Ranch Community Authority Board (Sky Ranch CAB) has completed a total of $21.9 million in municipal bond refinancing and that Sky We announced that we have raised funds. Ranch CAB earned $10.1 million in 2019 after repayment of bonds, fees, capital interest and expenses. Following closing, Sky Ranch CAB repaid Pure Cycle $10.1 million in public improvement reimbursements and related interest.
Sky Ranch CAB is the political division and public corporation of the State of Colorado responsible for the construction, design, and financing of public improvements at the Pure Cycle development site known as the Sky Ranch Master Planned Community (Sky Ranch). Sky Ranch CAB has engaged underwriter DA Davidson to refinance its 2019 notes within Sky Ranch Metropolitan District 1. Sky Ranch CAB successfully sold tax-exempt investment grade senior notes for an aggregate principal amount of $18,585,000. , fixed rate subordinated notes in the aggregate principal amount of $3,307,000 (collectively, the “2024 Notes”). In connection with the issuance of the 2024 Notes, the Company received $10.1 million in partial redemption of the Company’s notes receivable as an advance payment made by the Company to the Sky Ranch CAB to finance the construction of public improvements on the Sky Ranch property. .
“CAB’s underwriters were able to successfully issue bonds at competitively low interest rates in a volatile bond market.This bond offering brings the total amount of municipal bonds issued by Sky Ranch CAB to $5,140, excluding refinancing amounts. “This is a testament to the strength and success of being part of the Sky Ranch master planning community,” said Pure Cycle CEO Mark Harding. “We continue to complete lots, and our home builders continue to enjoy strong demand for entry-level homes in Sky Ranch. The pace of development in Sky Ranch continues to match the demand for our lots,” he said. “We are actively conducting three stages of development while accelerating the pace of development.” Harding.
Company information
Pure Cycle continues to grow, strengthen its business, expand its balance sheet and drive recurring revenue. We operate in three distinct business segments, each of which complements the other. At our core, we are an innovative, vertically integrated wholesale water and wastewater service provider. In 2017, we launched a land development division. This involves developing a master-planned community on land owned by the company and providing water and sewer services. In 2021, we launched our newest venture: the rental of single-family homes in Sky Ranch. This will provide long-term recurring revenue, drive land development business and add more customers to the water resources sector.
Additional information, including the Company’s recent press releases and SEC filings, can be found at www.purecyclewater.com. Or contact Mark W. Harding, President, or Marc Spezialy, CFO at 303-292-3456 or info@purecyclewater. .com.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements, other than statements of historical fact, contained in this press release that refer to activities, events or developments that will or may occur in the future. For example, descriptions of: Continue to grow throughout this market cycle. Completion and delivery of our rental units. Timing of development at Sky Ranch. Future tap sales and revenue. future home sales by our home builder customers; Affordable prices for our products. Strength of the Sky Ranch market. Water sales forecast for 2024 to oil and gas operators. Our condo sales. and expected financial results. “anticipate”, “likely”, “may”, “should”, “could”, “will”, “believe”, “estimate”, “expect” , “plan,” “intend,” and other words are intended. To identify forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ from projected results include, but are not limited to, mortgage interest rates, inflation, and other factors affecting the housing market and home sales. the risk factors described in Part I, Item 1A of our most recent Annual Report on Form 10-K for the year ended August 31, 2023; These factors are discussed from time to time in our press releases, public statements and documents filed with or provided to the Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Pure Cycle Co., Ltd.
View the original press release at accesswire.com
FAQ
How much did Pure Cycle (PCYO) receive from the Sky Ranch CAB bond refinancing in October 2024?
Pure Cycle received $10.1 million in partial redemption of Sky Ranch CAB bond refinancing public improvements.
What is the total value of Sky Ranch CAB 2024 Corporate Bonds Pure Cycle (PCYO)?
The total amount of the 2024 Notes is $21.9 million, consisting of $18.585 million in tax-exempt senior notes and $3.307 million in subordinated notes.
What is the total amount of municipal bonds issued by Sky Ranch CAB for Pure Cycle (PCYO)?
The total amount of municipal bonds issued by Sky Ranch CAB is $51.4 million, excluding refinancing amounts.
