Li-Cycle (NYSE: LICY), a leading global lithium-ion battery resource recovery company, has announced the closing of its underwritten public offering in the United States. Li-Cycle secured approximately $15 million in gross proceeds from the offering, of which it intends to use the net for working capital and general corporate purposes. In addition, the company granted Aegis Capital Corp. a 45-day option to purchase additional Common Shares and/or Series A Warrants and/or Series B Warrants representing up to 15% of the total Common Shares and up to 15% of the total Series A Warrants and Series B Warrants sold in the offering solely to cover over-allotments, if any. On Jan. 16, 2025, Aegis exercised its over-allotment option with respect to 2,250,000 Series A Warrants and 2,250,000 Series B Warrants. Aegis Capital Corp. acted as the sole book-running manager for the offering on a firm commitment basis. Freshfields US LLP acted as counsel to the company, and Sichenzia Ross Ference Carmel LLP acted as counsel to Aegis.
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About Li-Cycle Holdings Corp.
Li-Cycle is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle’s mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The company leverages its innovative, sustainable and patent-protected Spoke & Hub Technologies(TM) to recycle all different types of lithium-ion batteries. At its Spokes, or pre-processing facilities, the company recycles battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel and cobalt. At its future Hubs, or post-processing facilities, Li-Cycle plans to process black mass to produce critical battery-grade materials, including lithium carbonate, for the lithium-ion battery supply chain. For more information, visit https://li-cycle.com.
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