secwatch.observer — SEC 8-K summary
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Issuer:     Li-Cycle Holdings Corp. (—)
CIK:        0001828811
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001193125-24-065459
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.03, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Li-Cycle enters $75M convertible note with Glencore; conversion price $0.53/share
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/0001193125-24-065459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524065459/d764215d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-065459

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