---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-122542"
form_type: "8-K"
ticker: null
cik: "0001828811"
company_name: "Li-Cycle Holdings Corp."
filed_at: "2025-05-19T23:59:59+00:00"
generated_at: "2026-05-21T02:02:26.225325+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Li-Cycle files for creditor protection; Glencore provides $10.5M DIP and $40M stalking horse bid

## Summary
- Filed for CCAA creditor protection in Canada and Chapter 15 in U.S.; expects court-supervised sale and investment solicitation process.
- Entered DIP facility with Glencore affiliate: up to $10.5M (with potential $1.25M increase) at 11.3% interest, subject to court approval.
- Glencore stalking horse agreement to buy key subsidiaries and assets (Arizona, Alabama, New York, Germany Spokes, Rochester Hub, IP) for at least $40M plus assumed liabilities.
- Event of default accelerated obligations under Glencore convertible notes (principal, interest, make-whole) and Koch Note; DOE loan not drawn.
- Moved to OTC Pink Markets under symbol LICYQ; Germany Spoke to continue operating with DIP proceeds.

## SEC filing metadata
- accession: 0001193125-25-122542
- form_type: 8-K
- cik: 0001828811
- company_name: Li-Cycle Holdings Corp.
- filed_at: 2025-05-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 1.03, 2.03, 2.04, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828811/000119312525122542/0001193125-25-122542-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828811/000119312525122542/d892872d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-122542
- JSON: https://secwatch.observer/filing/0001193125-25-122542.json
- Plain text: https://secwatch.observer/filing/0001193125-25-122542.txt

## Key facts
- Debt Financings
  Li-Cycle Holdings Corp. faced acceleration on convertible notes of Not explicitly stated in excerpt with Glencore at Not explicitly stated in excerpt maturing Not explicitly stated in excerpt.
  - Instrument: convertible notes
  - Principal: Not explicitly stated in excerpt
  - Counterparty: Glencore
  - Rate: Not explicitly stated in excerpt
  - Maturity: Not explicitly stated in excerpt
  - Event: acceleration
  source text: The filing of the Restructuring Proceedings described above in Item 1.03 constitutes an event of default that accelerated the Company's obligations under the Company's convertible notes held by Glencore, including the amended and restated Senior Secured Convertible Note, and the amended and restated First A&R Convertible Note and the amended and restated Second A&R Convertible Note (collectively, the " Glencore Convertible Notes ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525122542/0001193125-25-122542-index.htm
- Debt Financings
  Li-Cycle Holdings Corp. faced acceleration on convertible notes of Not explicitly stated in excerpt with Wood River Capital, LLC at Not explicitly stated in excerpt maturing Not explicitly stated in excerpt.
  - Instrument: convertible notes
  - Principal: Not explicitly stated in excerpt
  - Counterparty: Wood River Capital, LLC
  - Rate: Not explicitly stated in excerpt
  - Maturity: Not explicitly stated in excerpt
  - Event: acceleration
  source text: The filing of the Restructuring Proceedings described above in Item 1.03 also constitutes an event of default under the amended and restated convertible note (the " Koch Note ") held by Wood River Capital, LLC (" Wood River ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525122542/0001193125-25-122542-index.htm
- Debt Financings
  Li-Cycle Holdings Corp. reported a default on loan of Not drawn down any funds with U.S. Department of Energy at Not explicitly stated in excerpt maturing Not explicitly stated in excerpt.
  - Instrument: loan
  - Principal: Not drawn down any funds
  - Counterparty: U.S. Department of Energy
  - Rate: Not explicitly stated in excerpt
  - Maturity: Not explicitly stated in excerpt
  - Event: default
  source text: The filing of the Restructuring Proceedings described above in Item 1.03 also constitutes an event of default under the Company's loan agreement with the U.S. Department of Energy (" DOE ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828811/000119312525122542/0001193125-25-122542-index.htm

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