PURE CYCLE CORP (PCYO) SEC Filings

Pure Cycle Corporation (PCYO) reported that on August 24, 2026, Chris Fink and Kelly Haecker were appointed to its Board of Directors, filling two prior vacancies and returning the Board to eight directors, seven of whom are independent under Nasdaq rules. The company states there are no appointment-related arrangements or related-party transactions requiring disclosure, and both new directors will receive the standard non-employee director compensation and indemnification agreement. A press release furnished as Exhibit 99.1 details their backgrounds in municipal finance, public company CFO roles, capital allocation, and strategic transactions, which Pure Cycle notes are relevant to its water, land development, and single-family rental businesses and its public finance structure.

Magnolia Capital Fund, LP, The Magnolia Group, LLC, and Adam K. Peterson report beneficial ownership in Pure Cycle Corporation. Magnolia Capital Fund, LP, The Magnolia Group, LLC, and Peterson collectively report beneficial ownership of 1,795,421 shares of Pure Cycle common stock for the fund, with Peterson also directly owning 6,000 shares, for a total of 1,801,421 shares attributed to him.

Each Reporting Person’s stake represents 7.5% of the outstanding common stock, with sole voting and dispositive power reported over their respective shares and no shared voting or dispositive power. The filing is made jointly under a Joint Filing Agreement dated August 14, 2026.

An amended Schedule 13D reports that investment entities associated with Daniel J. Roller hold stakes in Pure Cycle Corp common stock. Maran Capital Management, LLC beneficially owns 3,549,000 shares, or 14.7% of the class, while Roller reports beneficial ownership of 3,551,653 shares, also 14.7%. Plaisance SPV I, LLC holds 2,600,000 shares, or 10.8%.

On August 4, 2026, these investors and several nominees entered into a group agreement and sent a letter nominating five candidates for election to Pure Cycle’s board at the 2027 annual meeting. The group agreement coordinates joint Schedule 13D filings, proxy solicitation efforts, trading restrictions, and expense sharing, and the nominees grant Roller powers of attorney for related SEC documents. The amendment also notes that Daniel Kozlowski exits the Section 13(d) group.

Pure Cycle Corp investors led by Maran Capital filed Amendment No. 2 to their Schedule 13D on the company’s common stock. Maran Capital Management reports beneficial ownership of 3,549,000 shares, representing 14.7% of the class. On May 21, 2026, Daniel J. Roller resigned from the Board, and on July 7, 2026, Daniel Kozlowski also resigned. Maran Capital Management intends to exercise its replacement rights for both former directors under a Cooperation Agreement with Pure Cycle dated January 14, 2026.

Pure Cycle Corporation reported strong growth for Q3 and the first nine months of fiscal 2026 and announced a board transition. Net income reached $2.9 million for the quarter and $8.6 million year to date, up 31% and 23% from 2025. Diluted EPS rose to $0.12 for the quarter and $0.36 year to date, increases of 33% and 24%. Total revenue grew to $8.2 million in Q3 and $22.5 million year to date, gains of 60% and 51%, driven by higher land development activity and sharply higher water and wastewater revenue tied to oil and gas demand. The company continues to advance its Sky Ranch development and single-family rental program while maintaining positive EBITDA. Director Daniel R. Kozlowski resigned from the board effective July 7, 2026, with no disagreement reported.

Pure Cycle Corporation reported stronger results for the quarter and nine months ended May 31, 2026, driven by its water, land development and rental businesses at the Sky Ranch Master Planned Community near Denver.

Total revenue for the nine months rose to $22.5 million, led by land development revenue of $11.9 million and water and wastewater revenue of $10.1 million. Net income increased to $8.6 million, or $0.36 per diluted share, with higher industrial water sales to oil and gas operators and continued lot sales in Sky Ranch Phases 2B–2D.

At May 31, 2026, Pure Cycle had $14.6 million in cash, cash equivalents and restricted cash and total debt of $14.2 million. The company owned 38 single-family rental homes that were leased and has begun expanding that portfolio, supported by a growing note receivable of $58.2 million from the Sky Ranch Community Authority Board for reimbursable public improvements.

Pure Cycle Corporation reported that director Daniel J. Roller resigned from its Board of Directors on May 21, 2026, effective immediately. The company states that his resignation did not result from any disagreement regarding its operations, policies, or practices.

The Form 8-K was signed on behalf of Pure Cycle by Vice President and Chief Financial Officer Marc Spezialy.

Pure Cycle Corporation reported higher results for the three and six months ended February 28, 2026. Net income rose to $1.1 million for the quarter and $5.7 million year-to-date, marking the company’s twenty-seventh consecutive profitable quarter.

Quarterly diluted earnings per share increased to $0.05, with year-to-date diluted EPS of $0.23, up from $0.03 and $0.20 in the prior-year periods. Total revenue grew to $5.2 million for the quarter and $14.3 million year-to-date, driven by land development and water and wastewater activities at the Sky Ranch community.

Pure Cycle Corporation reported higher results for the quarter and six months ended February 28, 2026. Quarterly revenue rose to $5.2 million from $4.0 million, driven by stronger land development activity and higher water and wastewater usage, including sales to oil and gas operators.

Net income for the quarter increased to $1.1 million, or $0.05 per diluted share, compared with $0.8 million or $0.03 a year earlier. For the six-month period, revenue grew to $14.3 million and net income to $5.7 million, supported by ongoing build-out at the Sky Ranch community, higher tap and lot-related revenues, and interest income from related party notes.