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Li-Cycle Corp., a leader in lithium-ion battery recycling, is set to merge with Peridot Acquisition Corp. (NYSE: PDAC). The merger aims to enhance Li-Cycle's market presence and support its global expansion. A registration statement has been filed with the SEC, outlining the merger details. The transaction anticipates gross proceeds of approximately $615 million, contingent on shareholder approvals. Following the merger, the company will be renamed Li-Cycle Holdings Corp. and listed on the NYSE under the ticker symbol 'LICY.'
Li-Cycle Corp. has announced its participation in upcoming investor events including:
- Baird Vehicle Technology and Mobility Conference (March 9-10, 2021)
- Cowen Mobility Disruption Conference (March 11-12, 2021)
- 33rd Annual Roth Conference (March 15-17, 2021)
This follows a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC), set to close in Q2 2021. The combined company will rebrand as Li-Cycle Holdings Corp. and trade under the new ticker LICY.
TechMet has entered a definitive business combination agreement with Peridot Acquisition Corp. (PDAC) to merge with Li-Cycle, a leader in lithium-ion battery recycling. Post-combination, the new entity, Li-Cycle Holdings Corp., will trade on the NYSE under the ticker 'LICY'. The merger values Li-Cycle at $1.67 billion with expected cash of $615 million, leading to a market cap of $2.8 billion. TechMet's investment has achieved a 10x return, making them a major shareholder in the new listing.
Li-Cycle Corp. and Peridot Acquisition Corp. (PDAC) have announced a definitive business combination agreement, set to take Li-Cycle public. This merger values Li-Cycle at $975 million pre-money equity and a pro forma value of $1.67 billion post-transaction. The company, specializing in lithium-ion battery recycling, expects to generate over $300 million annually from existing contracts with major automotive and battery manufacturers. The deal will provide $615 million in gross proceeds and is anticipated to close in Q2 2021, following shareholder approval.
