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How to locate nth position of \"^\" in record, Cut 2 Cols & INS a EOR \"|\"

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I have over 100 text files with about 25 fields per record, fields delimited with “^”.
I need to loop through the directory for files matching *TAT*.txt (about 100+ files)
For all records in each file:
delete all columns after field #15 to the end of record
Insert a “|” at the end of each record
Overwrite original file.

I have been searching for days, have been able to find the loop for files, the substring for the parsing, but I am unable to find a way to locate the position of the 15th delimiter “^”, parse and overwrite.
Have ZERO experience with Powershell, but a lot of programming exp.

Please assist if you can.
Thanks,
CV


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