secwatch.observer — SEC 8-K summary
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Issuer:     Li-Cycle Holdings Corp. (—)
CIK:        0001828811
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001193125-24-076623
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524076623/0001193125-24-076623-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828811/000119312524076623/d797686d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-076623

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer