Li-Cycle Holdings Corp Announces Successful Closure of Public Offering

On January 14, 2025, Li-Cycle Holdings Corp. (NYSE: LICY) entered into an underwriting agreement with Aegis Capital Corp., in which Li-Cycle agreed to offer and sell an aggregate of 5,000,000 units (Units) and 10,000,000 pre-funded units (Pre-Funded Units) in an underwritten public offering in the United States. The Units contained one common share, one eight-month warrant (Series A Warrants), and one five-year warrant (Series B Warrants), while the Pre-Funded Units included one pre-funded warrant and the aforementioned warrants.

The public offering price per Unit was $1.00 and for the Pre-Funded Unit was $0.99999. Additionally, Aegis was granted a 45-day option to purchase additional Common Shares and/or Series A Warrants and/or Series B Warrants. On January 16, 2025, Aegis exercised its over-allotment option with respect to 2,250,000 Series A Warrants and 2,250,000 Series B Warrants.

The Offering was made in accordance with a Registration Statement on Form S-3, filed on March 15, 2024, and declared effective by the SEC on March 29, 2024. Concurrently, Li-Cycle entered into a letter agreement with Glencore Canada Corporation, related party and holder of a senior secured convertible note, to grant consent for the issuance of the warrants.

Continental Stock Transfer & Trust Company, LLC acted as warrant agent for the Warrants. The Offering closed on January 16, 2025, with Li-Cycle receiving net proceeds of approximately $13.4 million for working capital and general corporate purposes.

The issuance of two press releases on January 15th and 16th respectively, highlighted the pricing and closing of the Offering. Li-Cycle, a global lithium-ion battery resource recovery company, aims to establish a closed-loop battery supply chain for clean energy.

The Company intends to utilize the net proceeds from this Offering strategically. Li-Cycle has plans to enhance its recycling capacity and efficiency, source feedstock, and manage its supply chain effectively. These initiatives align with its goal to establish a sustainable battery supply chain for a cleaner future.

Investors and media personnel interested in more information may contact Li-Cycle via the provided email addresses. Li-Cycle also shared forward-looking statements in the press release, emphasizing its mission and strategic intent for the future. The company cautions that actual results may vary owing to inherent risks and uncertainties, as detailed in regulatory filings.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Li-Cycle’s 8K filing here.

Li-Cycle Company Profile

Li-Cycle Holdings Corp. engages in the lithium-ion battery resource recovery and lithium-ion battery recycling business in North America. The company offers a mix of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum; and copper and aluminum metals.