** Plastic recycling firm PureCycle Technologies' PCT.O shares down 14.4% premarket on Thurs to $8.46 after $395 mln raise

** PCT stock on course to fall for fifth straight day

** Co early Thurs announces pricing concurrent offerings of $250 mln 4.75% convertible bonds (CBs) due 2032 and ~17.66 mln shares at $8.21 for $145 mln

** Equity offering price represents 17% discount to stock's last close; initial conversion price on the CBs is $11.08

** PCT intends to use net offerings proceeds to repurchase portion of its 7.25% CBs due 2030, for working capital and other purposes

** Morgan Stanley sole bookrunner

** Orlando, Florida-based PCT has ~180.8 mln shares outstanding

** At Weds close, shares up 15% YTD including 90% surge QTD

** Of 6 analysts covering the stock, 3 rate "buy", 3 "hold"; median PT $12, according to LSEG data