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Li-Cycle Holdings Corp. has successfully completed its business combination with Peridot Acquisition Corp., which will see its common stock and warrants trade under the symbols 'LICY' and 'LICY.WS' on the NYSE starting August 11, 2021. The transaction, approved on August 5, 2021, grants Li-Cycle a pre-money valuation of $975 million and approximately $580 million in gross proceeds, bolstering its capabilities in lithium-ion battery recycling. CEO Ajay Kochhar highlighted the strategic importance of this union amid growing demand for sustainable battery solutions in the electric vehicle sector.
Peridot Acquisition Corp. (PDAC) announced the approval of all proposals related to its business combination with Li-Cycle Corp. at a shareholder meeting on August 5, 2021. With only 11% of shares redeemed, Li-Cycle is set to receive approximately $580 million in gross proceeds from the transaction, expected to close around August 10, 2021. Post-merger, trading for Li-Cycle Holdings Corp. will begin on August 11, 2021, under ticker symbols 'LICY' and 'LICY WS'.
Li-Cycle Corp., a leader in lithium-ion battery recycling, has appointed Dawei Li as VP of Asia. In this role, Mr. Li will oversee business development and the rollout of commercial recycling facilities in the Asian market. With over 15 years of experience, he aims to leverage his expertise during a crucial growth phase for Li-Cycle, especially as the company expands its operations globally and approaches its U.S. public trading debut. CEO Ajay Kochhar emphasized the significance of the Asian lithium-ion battery market in Li-Cycle's strategic growth plans.
Li-Cycle Corp., a leader in lithium-ion battery recycling, announced a partnership with Univar Solutions to provide comprehensive waste management solutions for lithium-ion batteries. This collaboration will benefit customers across various manufacturing sectors, notably in the electric vehicle market. The partnership aims to enhance sustainable recycling practices and create new sources of critical materials. Li-Cycle's innovative Spoke & Hub Technologies™ will further contribute to efficient resource recovery, supporting the growing demand for battery-grade raw materials.
Peridot Acquisition Corp. (NYSE: PDAC) announced that the SEC has declared effective its Registration Statement for the business combination with Li-Cycle Holdings Corp. An extraordinary general meeting for Peridot shareholders is scheduled for August 5, 2021, to approve the transaction. Li-Cycle's CEO noted progress in recycling capacity and technology, including a partnership with Ultium, LLC. The business combination is expected to close around August 10, 2021, pending shareholder approval.
Li-Cycle Corp. has partnered with Helbiz to develop a sustainable recycling solution for lithium-ion batteries from e-scooters and e-bikes. This collaboration supports the growing micro-mobility market, projected to hit $150 billion by 2025. Li-Cycle plans to recycle 500 batteries from Helbiz's fleet initially, aiming for increased volume as they support operations in the U.S. and Europe. Both companies are preparing for public listings through SPACs, with Li-Cycle's merger with Peridot Acquisition Corp. expected in Q3 2021, positioning them as leaders in sustainability within their respective sectors.
Li-Cycle Corp., a leader in lithium-ion battery recycling, will participate in an ICR De-SPAC webinar on June 30, 2021, at 1:00 PM ET. Hosted by Dan Ives from Wedbush Securities, the discussion will cover business models, expansion plans, and a forthcoming SPAC merger with Peridot Acquisition Corp. (PDAC). The merger is expected to close in Q3 2021, leading to the formation of Li-Cycle Holdings Corp. with a new ticker symbol, LICY. The company aims to create a closed-loop solution for battery materials to meet escalating global demand.
Li-Cycle Corp. has partnered with Renewance to enhance lithium-ion battery recycling solutions for end-of-life energy storage systems. The partnership aims to address the growing U.S. energy storage market, projected to reach 26.5 GWh annually by 2025. This collaboration focuses on safely decommissioning energy storage systems and recovering valuable materials. With operations in California and New York, Li-Cycle is positioned to capitalize on this market growth. Furthermore, the business combination with Peridot Acquisition Corp. (NYSE: PDAC) is anticipated to close in Q3 2021, leading to a new stock listing under LICY.
Li-Cycle Corp., a leader in lithium-ion battery recycling, announced its participation in several key investor events scheduled from May 25 to June 23, 2021. These include the Jefferies Renewable Energy Conference and Citi's Lithium/Battery/EV Conference. Additionally, on February 16, 2021, Li-Cycle revealed a business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC), aiming to finalize this merger in 2Q 2021. The newly combined entity will be known as Li-Cycle Holdings Corp. and intends to list on NYSE under the symbol 'LICY.'
