---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-076623"
form_type: "8-K"
ticker: null
cik: "0001828811"
company_name: "Li-Cycle Holdings Corp."
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:37:45.319485+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Li-Cycle closes $75M Glencore convertible note; amends $225M existing notes

## Summary
- Glencore invested $75M via senior secured convertible note, convertible at $0.53/share, 5-year term.
- Interest payable at SOFR+5% cash or SOFR+6% PIK; cash preservation plan ongoing.
- Existing ~$225M Glencore convertible notes amended and restated in two tranches.
- Koch note amended (Amendment No. 3) with penalty interest alignment and removal of SOFR floor/ceiling.
- DOE conditional loan commitment for up to $375M remains under review; Rochester Hub strategy evaluation continues.

## SEC filing metadata
- accession: 0001193125-24-076623
- form_type: 8-K
- cik: 0001828811
- company_name: Li-Cycle Holdings Corp.
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828811/000119312524076623/0001193125-24-076623-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828811/000119312524076623/d797686d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-076623
- JSON: https://secwatch.observer/filing/0001193125-24-076623.json
- Plain text: https://secwatch.observer/filing/0001193125-24-076623.txt

## Key facts
- Material Agreements
  Li-Cycle Holdings Corp. entered into Amended and Restated Note Purchase Agreement with Glencore Ltd. and Glencore Canada Corporation valued at $75,000,000 senior secured convertible note (effective 2024-03-25).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Glencore Ltd. and Glencore Canada Corporation
  - Value: $75,000,000 senior secured convertible note
  - Effective: 2024-03-25
  source text: On March 11, 2024, 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 a senior secured convertible note (the “ Senior Secured Convertible Note ”) in an aggregate principal amount of $75,000,000 (the “ Transaction ”), in a transaction exempt from registration under the Securities Act of 1933, as amended (the “ Securities Act ”). The Note Purchase Agreement was amended and restated on March 25, 2024 (the “ Amended and Restated Note Purchase Agreement ”) in order to provide for potential partial transfers of the Senior Secured Convertible Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312524076623/0001193125-24-076623-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.