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Li-Cycle Holdings (LICY) has provided an update.
Li-Cycle Holdings Corp. has entered into a $75 million financing agreement with Glencore through a senior secured convertible note, set to mature in five years with interest payable semi-annually. This strategic financial move, exempt from typical registration requirements, allows Glencore to convert the debt into shares at $0.53 each and could lead to Glencore owning a significant portion of Li-Cycle’s common shares. The deal includes various covenants, redemption rights, and potential changes in company control, depending on future events and Glencore’s decisions regarding interest payments and note conversions.
See more insights into LICY stock on TipRanks’ Stock Analysis page.