Li-Cycle Engages Moelis to Evaluate Financing and Strategic Alternatives
13 Novembre 2023 - 10:05PM
Business Wire
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, today announced that Moelis & Company LLC (“Moelis”),
a leading global independent investment bank, has been engaged as
financial advisor to assist in evaluating financing and strategic
alternatives for the Company.
There can be no assurance that this evaluation process will
result in the Company pursuing or consummating any particular
transaction or other strategic outcome. The Company does not intend
to comment further on the evaluation process and will make further
announcements in accordance with its ongoing disclosure obligations
and pursuant to applicable laws and regulations.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery
resource recovery company and North America’s largest pure-play
lithium-ion battery recycler, with a rapidly growing presence
across Europe. Established in 2016, and with major customers and
partners around the world, Li-Cycle is on a mission to recover
critical battery-grade materials to create a domestic closed-loop
battery supply chain for a clean energy future. The Company
leverages its innovative, sustainable, and patent-protected Spoke
& Hub Technologies™ to provide a safe, scalable,
customer-centric solution to recycle all different types of
lithium-ion batteries. At our Spokes, or pre-processing facilities,
we recycle battery manufacturing scrap and end-of-life batteries to
produce black mass, a powder-like substance which contains a number
of valuable metals, including lithium, nickel, and cobalt. At our
Hubs, or post-processing facilities, we will process black mass to
produce critical battery-grade materials, including lithium
carbonate, nickel sulphate, and cobalt sulphate. 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
U.S. Private Securities Litigation Reform Act of 1995, Section 27A
of the U.S. Securities Act of 1933, as amended, Section 21 of the
U.S. Securities Exchange Act of 1934, as amended, and applicable
Canadian securities laws. Forward-looking statements may generally
be identified by the use of words such as “believe”, “may”, “will”,
“continue”, “anticipate”, “intend”, “expect”, “should”, “would”,
“could”, “plan”, “potential”, “future”, “target” or other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters, although not all
forward-looking statements contain such identifying words.
Forward-looking statements in this press release include but are
not limited to statements about: the expectation that Moelis will
assist the Company in evaluating financing and strategic
alternatives. 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 expectations expressed
in or implied by the forward-looking statements.
These forward-looking statements are provided for the purpose of
assisting readers in understanding certain key elements of
Li-Cycle’s current objectives, goals, targets, strategic
priorities, expectations and plans, and in obtaining a better
understanding of Li-Cycle’s business and anticipated operating
environment. Readers are cautioned that such information may not be
appropriate for other purposes and is not intended to serve as, and
must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability.
Forward-looking statements involve inherent risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of Li-Cycle, and are not guarantees of
future performance. Li-Cycle believes that these risks and
uncertainties include, but are not limited to, the following:
additional funds required to meet Li-Cycle’s capital and operating
requirements in the future not being available to Li-Cycle on
acceptable terms or at all when it needs them; Li-Cycle may engage
in strategic transactions, including financing and mergers and
acquisitions activity, that could disrupt its business, cause
dilution to its shareholders, reduce its financial resources,
result in incurrence of secured and unsecured debt, or prove not to
be successful; Li-Cycle’s inability to economically and efficiently
source, recover and recycle lithium-ion batteries and lithium-ion
battery manufacturing scrap, as well as third party black mass, and
to meet the market demand for an environmentally sound, closed-loop
solution for manufacturing waste and end-of-life lithium-ion
batteries; Li-Cycle’s inability to successfully implement its
global growth strategy, on a timely basis or at all; Li-Cycle’s
inability to manage future global growth effectively; Li-Cycle’s
inability to develop the Rochester Hub, and other future projects
including its Spoke network expansion projects in a timely manner
or on budget or that those projects will not meet expectations with
respect to their productivity or the specifications of their end
products; Li-Cycle’s failure to materially increase recycling
capacity and efficiency; one or more of Li-Cycle’s current or
future facilities becoming inoperative, capacity constrained or if
its operations are disrupted; Li-Cycle expects to continue to incur
significant expenses and may not achieve or sustain profitability;
problems with the handling of lithium-ion battery cells that result
in less usage of lithium-ion batteries or affect Li-Cycle’s
operations; Li-Cycle’s inability to maintain and increase feedstock
supply commitments as well as securing new customers and off-take
agreements; a decline in the adoption rate of EVs, or a decline in
the support by governments for “green” energy technologies;
decreases in benchmark prices for the metals contained in
Li-Cycle’s products; changes in the volume or composition of
feedstock materials processed at Li-Cycle’s facilities; the
development of an alternative chemical make-up of lithium-ion
batteries or battery alternatives; Li-Cycle’s revenues for the
Rochester Hub are derived significantly from a single customer;
Li-Cycle’s insurance may not cover all liabilities and damages;
Li-Cycle’s heavy reliance on the experience and expertise of its
management; Li-Cycle’s reliance on third-party consultants for its
regulatory compliance; Li-Cycle is, and may become, subject to
legal proceedings that could require Li-Cycle to incur significant
legal expenses and divert management’s attention away from
operating Li-Cycle’s business; Li-Cycle’s inability to complete its
recycling processes as quickly as customers may require; Li-Cycle’s
inability to compete successfully; increases in income tax rates,
changes in income tax laws or disagreements with tax authorities;
significant variance in Li-Cycle’s operating and financial results
from period to period due to fluctuations in its operating costs
and other factors; fluctuations in foreign currency exchange rates
which could result in declines in reported sales and net earnings;
unfavorable economic conditions, such as consequences of the global
COVID-19 pandemic; natural disasters, unusually adverse weather,
epidemic or pandemic outbreaks, cyber incidents, boycotts and
geo-political events; failure to protect or enforce Li-Cycle’s
intellectual property; Li-Cycle may be subject to intellectual
property rights claims by third parties; Li-Cycle’s failure to
effectively remediate the material weaknesses in its internal
control over financial reporting that it has identified or if it
fails to develop and maintain a proper and effective internal
control over financial reporting. These and other risks and
uncertainties related to Li-Cycle’s business are described in
greater detail in the section entitled “Risk Factors” and “Key
Factors Affecting Li-Cycle’s Performance” in its Annual Report on
Form 20-F filed with the U.S. Securities and Exchange Commission
and the Ontario Securities Commission in Canada. Because of these
risks, uncertainties and assumptions, readers should not place
undue reliance on these forward-looking statements. Actual results
could differ materially from those contained in any forward-looking
statement.
Li-Cycle assumes no obligation to update or revise any
forward-looking statements, except as required by applicable laws.
These forward-looking statements should not be relied upon as
representing Li-Cycle’s assessments as of any date subsequent to
the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113652298/en/
Investor Relations Nahla A. Azmy
Sheldon D’souza investors@li-cycle.com
Media Louie Diaz
media@li-cycle.com
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