{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-065459","form_type":"8-K","ticker":null,"cik":"0001828811","company_name":"Li-Cycle Holdings Corp.","filed_at":"2024-03-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.789188+00:00","generated_at":"2026-06-04T23:17:36.750161+00:00","sec_items":["1.01","3.03","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Li-Cycle enters $75M convertible note with Glencore; conversion price $0.53/share","bullets":["$75M senior secured convertible note from Glencore; matures 5 years; interest SOFR+5% (cash) or SOFR+6% (PIK).","Conversion price $0.53/share; Glencore could reach ~47.8% ownership on full conversion (including existing note).","Glencore gets two additional board nominees (total 3); nominees must be independent under Canadian/US rules.","Rights Agreement amended to exempt Glencore from 'Acquiring Person' definition for the transaction and related transfers.","NYSE granted financial viability exception; Audit Committee approved reliance on that exception."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-065459","json":"https://secwatch.observer/filing/0001193125-24-065459.json","markdown":"https://secwatch.observer/filing/0001193125-24-065459.md","text":"https://secwatch.observer/filing/0001193125-24-065459.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/0001193125-24-065459-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/d764215d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T23:17:36.750161+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"aa407a6b5faffe9ae45280710922ef79f788f7fe","claim":"Li-Cycle Holdings Corp. incurred convertible notes of $75,000,000 with Glencore Ltd. and Glencore Canada Corporation at secured overnight financing rate plus five percent (5%) per annum if interest is maturing fifth anniversary of the closing.","evidence_excerpt":"On March 11, 2024, Li-Cycle Holdings Corp. (the “ Company ”) entered into a Note Purchase Agreement (the “ Note Purchase Agreement ”) with Glencore Ltd. (“ Glencore Intermediate ”), and Glencore Canada Corporation (“ Glencore ”, and together with Glencore Intermediate, the “ Glencore Parties ”), pursuant to which the Company agreed to issue and sell to Glencore a senior secured convertible note (the “ Senior Secured Convertible Note ”) in an aggregate principal amount of $75,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/0001193125-24-065459-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$75,000,000"},{"label":"Counterparty","value":"Glencore Ltd. and Glencore Canada Corporation"},{"label":"Rate","value":"secured overnight financing rate plus five percent (5%) per annum if interest is"},{"label":"Maturity","value":"fifth anniversary of the closing"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1f6ea2d28030c0f15e645be5bb4c567addebd9cd","claim":"Li-Cycle Holdings Corp. entered into Note Purchase Agreement with Glencore Ltd. and Glencore Canada Corporation valued at $75,000,000 (effective 2024-03-11).","evidence_excerpt":"On March 11, 2024, Li-Cycle Holdings Corp. (the “ Company ”) entered into a Note Purchase Agreement (the “ Note Purchase Agreement ”) with Glencore Ltd. (“ Glencore Intermediate ”), and Glencore Canada Corporation (“ Glencore ”, and together with Glencore Intermediate, the “ Glencore Parties ”), pursuant to which the Company agreed to issue and sell to Glencore a senior secured convertible note (the “ Senior Secured Convertible Note ”) in an aggregate principal amount of $75,000,000","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/0001193125-24-065459-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Glencore Ltd. and Glencore Canada Corporation"},{"label":"Value","value":"$75,000,000"},{"label":"Effective","value":"2024-03-11"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}