TORONTO–( BUSINESS WIRE )–Li-Cycle Holdings Corp. today announced… (NYSE: LICY) (“Li-Cycle” or the “Company”), a global leader in lithium-ion battery resource recovery, has commenced an underwritten public offering in the United States (the “Offering”) to offer and sell units of It consists of (1) common stock (or pre-funded warrants in lieu thereof) and (2) warrants to purchase common stock.
In addition, the company expects to award Aegis Capital Corp. A 45-day option to purchase additional common shares and/or warrants representing up to 15% of the total common shares and up to 15% of the total warrants sold in the offering solely to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The Company's common stock is traded on the New York Stock Exchange under the symbol LICY. The offered warrants and pre-funded warrants, if any, will not be listed on any exchange. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering.
Aegis Capital Corp is acting as sole bookrunner for the offering on a firm commitment basis. Freshfields US LLP is serving as advisor to the Company. Sichenzia Ross Ference Carmel LLP is serving as advisor to Aegis Capital Corp.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-278010) previously filed with the U.S. Securities and Exchange Commission (˜SEC) and declared effective by the SEC on March 29, 2024. A prospectus supplement will be filed The preliminary offering and accompanying prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission and will be available on the SEC's website located at the following link: www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained by contacting Aegis Capital Corp., Attention: Syndication Department, 1345 Avenue of the Americas, 27th Floor, New York, NY 10105, by email at the following address: Syndicate@aegiscap.com, or by phone at +1 (212) 813-1010. Before investing in the offering, interested parties should read the entire registration statement, preliminary prospectus supplement, accompanying prospectus, and other documents filed by the Company with the Securities and Exchange Commission and incorporated therein, which provide further information about the Company and the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Such jurisdiction.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a global leader in lithium-ion battery resource recovery. Founded in 2016, with major customers and partners around the world, Li-Cycle's mission is to recover critical materials used in batteries to create a closed-loop, local battery supply chain for a clean energy future. The company leverages innovative, sustainable, patented Spoke & Hub Technologies™ to recycle all different types of lithium-ion batteries. At our specialist pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce blackmass, a powder-like material containing a number of precious metals, including lithium, nickel and cobalt. In our future centers, or post-processing facilities, we plan to process the black mass to produce important battery-grade materials, including lithium carbonate, for the lithium-ion battery supply chain. For more information, visit https://li-cycle.com/.
Forward-looking statements
Certain statements in this press release may be deemed forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1995. 1934, As amended, and applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of words such as believe, may, will continue, expect, should, plan, potential, future or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although Although forward-looking statements do not contain such identifying words. Forward-looking statements in this press release include, but are not limited to, statements about: the completion and terms of the offering; and the intended use of the proceeds.
These statements are based on various assumptions, whether or not identified in this press release, including but not limited to assumptions regarding Li-Cycle's ability to meet withdrawal conditions and obtain financing under a loan facility with the U.S. Department of Energy (DOE Loan Facility ); the timing, scope and cost of Li-Cycle projects, including temporarily discontinued projects; the processing and production capacity of Li-Cycle's facilities; Li-Cycle's ability to source raw materials and manage supply chain risks; Li-Cycle's ability to increase recycling capacity and efficiency; Li-Cycle's ability to obtain financing on acceptable terms or at all; Success of Li-Cycle's cash preservation plan; The outcome of Li-Cycle's Rochester Hub going forward strategy; Li-Cycle's ability to retain and hire key employees and maintain relationships with customers, suppliers and other business partners. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from the expectations expressed or implied in the forward-looking statements.
These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current goals, objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and expected operating environment. Readers are cautioned that this information may not be suitable for other purposes and is not intended to serve as a guarantee, assertion, prediction, or definitive statement of fact or probability, and should not be relied upon.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond Li-Cycle's control and do not constitute guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle's inability to finance the expected costs and realize the expected benefits of its Spoke Improvement Plan; Li-Cycle's inability to meet withdrawal conditions and obtain financing under the DOE Loan Facility; Li-Cycle's inability to develop the Rochester Center as anticipated or at all, and other future projects including its Spoke network expansion projects on time or within budget or that those projects will not meet expectations with respect to their productivity or specifications. finished products; risks and uncertainties related to Li-Cycle's ability to continue as a going concern; Li-Cycle insurance may not cover all liabilities and damages; Li-Cycle's reliance on a limited number of business partners to generate revenue; Li-Cycle's failure to effectively address material weaknesses in internal control over financial reporting that it has identified or its failure to develop and maintain adequate and effective internal control over financial reporting; and the risk that litigation or regulatory proceedings could materially and adversely affect Li-Cycle's financial results. These and other risks and uncertainties relating to Li-Cycle's business are described in more detail in the sections titled Item 1A. Risk Factors and Item 7. Management's Discussion and Analysis of Financial Condition and Operating Results “Key Factors Affecting Li-Cycle's Performance” in its Annual Report on Form 10-K and the sections titled Part II. Other Information “Item 1A. Risk factors and part one. Financial Information “Item 2. Management's Discussion and Analysis of Financial Condition and Operating Results” lists the key factors affecting Li-Cycle's performance in its quarterly reports on Form 10-Q, in each case filed with the Securities and Exchange Commission and the SEC. Ontario in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results may differ materially from those expressed in any forward-looking statement.
Li-Cycle undertakes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle's assessments as of any date subsequent to the date of this press release.
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Investor relations and media
Louie Diaz
Sheldon D'Souza
Investor Relations: investors@li-cycle.com
Media: media@li-cycle.com
Source: Li-Cycle Holdings
