Li-Cycle announces the launch of a proposed underwriting public offering by Investing.com

TORONTO–(BUSINESS WIRE)–Li-Cycle Holdings Corp. (NYSE: LICY ) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery recovery company, today announced that it has commenced public offering in the United States (the Offering) for the offer and sale of units consisting of (i) common stock (or pre-funded warrants in lieu thereof) and (ii) warrants to purchase common stock.

In addition, the Company expects to give 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 solely in the Offer 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 NYSE under the symbol LICY. The offered warrants and pre-funded warrants, if any, will not be listed on any stock exchange. The Offer is subject to market and other conditions and there can be no guarantee as to whether or when the Offer will be completed, or the actual size or terms of the Offer.

Aegis Capital Corp. acts as sole bookkeeper for the Firm Commitment Offer. Freshfields US LLP is acting as advisor to the Company. Sichenzia Ross Ference Carmel LLP is acting 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. And a preliminary prospectus supplement and accompanying prospectus describing the terms of the Offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Electronic copies of the preliminary prospectus supplement and the supporting prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap. com or phone number +1 (212) 813-1010 (display, other). Before investing in the Offering, interested parties should read in their entirety the registration statement, the preliminary prospectus supplement, the accompanying prospectus and other documents filed by the Company with the SEC and incorporated herein that provide more information about the Company and the Offering.

This press release will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws. papers of any such state or jurisdiction.

About Li-Cycle Holdings Corp.

Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery reclamation company. Founded in 2016, with major customers and partners worldwide, Li-Cycle’s mission is to recover critical battery materials to create a domestic, closed-loop battery supply chain for a clean energy future. The company uses its innovative, sustainable and patent-protected Spoke & Hub Technologies™ to recycle all different types of lithium-ion batteries. At our Spokes or pre-process facilities, we recycle battery manufacturing waste and spent batteries to produce black stock, a powder-like substance that contains a number of valuable metals, including lithium, nickel and cobalt. At our future hubs or post-processing facilities, we plan to process black stock to produce critical battery materials, including lithium carbonate, for the lithium-ion battery supply chain. For more information, visit https://li-cycle.com/.

Forward-looking statements

Certain statements contained in this press release may be considered forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, Section 27A of the US Securities Act of 1933, as amended, and as amended, Section 21 of the US Securities Exchange Act of 1934, as amended, and applicable Canadian laws on securities. Forward-looking statements generally can 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 questions, although they do not all contain statements relating to the future of such identifying words. Forward-looking statements in this press release include, but are not limited to, statements regarding: the completion and terms of the Offer; and the intended use of the Company’s income.

These statements are based on various assumptions, whether or not stated in this press release, including but not limited to assumptions regarding Li-Cycle’s ability to satisfy withdrawal conditions and access to financing under a loan with the US Department of Energy- a (loan DOE Object); the timing, scope and cost of Li-Cycle’s projects, including paused projects; processing capacity and production of the Li-Cycle plant; Li-Cycle’s ability to procure feedstock and manage supply chain risk; Li-Cycle’s ability to increase recycling capacity and efficiency; Li-Cycle’s ability to obtain financing on acceptable terms or at all; the success of Li-Cycle’s cash conservation plan; the outcome of Li-Cycle’s Rochester Hub growth strategy; Li-Cycle’s ability to retain and hire key personnel 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 by the forward-looking statements.

These forward-looking statements are made to assist readers in understanding certain key elements of Li-Cycle’s current goals, objectives, targets, strategic priorities, expectations and plans, and to gain a better understanding of Li-Cycle’s business and expected business environment. Readers are cautioned that such information may not be suitable for other purposes and is not intended to serve as a guarantee, warranty, prediction or definitive statement of fact or probability and should not be relied upon by any investor.

Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict, many of which are beyond Li-Cycle’s control, and are not 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 anticipated costs and realize the anticipated benefits of its Spoke optimization plan; Li-Cycle’s inability to satisfy withdrawal conditions and access financing under the DOE loan; Li-Cycle’s inability to develop the Rochester Hub as planned or at all and other future projects including its Spoke network expansion projects on time or on budget or that these projects will not meet expectations with respect to their productivity or the specifications of their end products; risk 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 commercial partners to generate revenue; Li-Cycle’s failure to effectively remediate material weaknesses in its 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 risks of legal or regulatory proceedings that could materially and adversely affect Li-Cycle’s financial results. These and other risks and uncertainties associated with Li-Cycle’s business are described in more detail in the sections entitled Item 1A. Risk Factors and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” Key Factors Affecting Li-Cycle’s Performance in its Annual Report on Form 10-K and the sections entitled Part II. Other information” Item 1A. Risk Factors and Part I. Financial Information”Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations”Key Factors Affecting Li-Cycle’s Performance in its Quarterly Reports on Form 10-Q, in each case filed with the SEC and Securities Commission of 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 contained in any forward-looking statement.

Li-Cycle undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law. These forward-looking statements should not be relied upon as an estimate of Li-Cycle as of any date after 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 Corp.