---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-111697"
form_type: "8-K"
ticker: null
cik: "0001828811"
company_name: "Li-Cycle Holdings Corp."
filed_at: "2025-05-02T23:59:59+00:00"
generated_at: "2026-05-22T23:02:26.163960+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Li-Cycle to seek buyers, may dissolve; suspends operations, cuts 50% of staff; CEO and CFO exit

## Summary
- Seeking buyers for business/assets; retained Hilco Corporate Finance; no actionable deal found.
- Suspending Arizona Spoke and Alabama Spoke facilities; furloughing ~85 employees.
- Reducing global workforce by ~119 positions (50%); expects ~$264K in severance charges.
- CEO Ajay Kochhar stepping down May 15; becomes senior advisor via Maplebriar for $50K/month plus fees.
- CFO Craig Cunningham departed; William Aziz appointed CRO, Michelle Faysal as interim CFO.

## SEC filing metadata
- accession: 0001193125-25-111697
- form_type: 8-K
- cik: 0001828811
- company_name: Li-Cycle Holdings Corp.
- filed_at: 2025-05-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/0001193125-25-111697-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/d944053d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-111697
- JSON: https://secwatch.observer/filing/0001193125-25-111697.json
- Plain text: https://secwatch.observer/filing/0001193125-25-111697.txt

## Key facts
- Executive change
  Ajay Kochhar departed as President and Chief Executive Officer at Li-Cycle Holdings Corp..
  - Action: will cease serving
  - Role: President and Chief Executive Officer
  source text: on May 15, 2025, will cease serving as the Company’s President and Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/0001193125-25-111697-index.htm
- Executive change
  Craig Cunningham departed as Chief Financial Officer at Li-Cycle Holdings Corp..
  - Action: ceased serving
  - Role: Chief Financial Officer
  source text: Effective as of April 30, 2025, Mr. Craig Cunningham ceased serving as the Company’s Chief Financial Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/0001193125-25-111697-index.htm
- Executive change
  Ajay Kochhar departed as Director at Li-Cycle Holdings Corp..
  - Action: stepped down
  - Role: Director
  source text: Effective as of April 30, 2025, Mr. Ajay Kochhar has stepped down from the Board of Directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/0001193125-25-111697-index.htm
- Restructurings & Charges
  Li-Cycle Holdings Corp. announced a restructuring with charges of approximately $264,000 affecting Arizona Spoke and Alabama Spoke recycling facilities; Toronto headquarters (approximately 119 positions, representing approximately 50% of the Company’s global workforce).
  - Type: restructuring
  - Charge: approximately $264,000
  - Affected area: Arizona Spoke and Alabama Spoke recycling facilities; Toronto headquarters
  - Headcount: approximately 119 positions, representing approximately 50% of the Company’s global workforce
  source text: On April 30, 2025, the Board of Directors of the Company approved plans to suspend operations at the Company’s Arizona Spoke and Alabama Spoke recycling facilities, as part of its effort to optimize liquidity and support the Company’s sale process. As a result, the Company has furloughed approximately 85 employees at or related to these facilities. In addition, the Company has reduced its workforce at the corporate level by approximately 34 positions, primarily at its Toronto headquarters, effective May 1, 2025. Overall, the Company expects to eliminate approximately 119 positions, representing approximately 50% of the Company’s global workforce. The Company estimates that it will incur total charges of approximately $264,000 in connection with the workforce reduction, with the majority of these charges to be incurred as cash severance payments over the course of the next two months.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525111697/0001193125-25-111697-index.htm

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