LICY - Why Is Li-Cycle Stock Jumping Today? | Benzinga
Li-Cycle Holdings Corp (NYSE:LICY) has entered into an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million to an affiliate of Glencore plc (OTC:GLNCY).
Glencore is a Switzerland-based producer, recycler, and marketer of nickel and cobalt for the production of lithium-ion batteries.
“We are pleased to secure an additional $75 million investment from Glencore, following Glencore’s June 2022 investment, to improve our liquidity position while we continue our ongoing comprehensive review process,” said co-founder and CEO Ajay Kochhar.
Tim Johnston, co-founder and Executive Chairman, ...