secwatch.observer — SEC 8-K summary
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Issuer:     Li-Cycle Holdings Corp. (—)
CIK:        0001828811
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001628280-24-022456
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Li-Cycle Q1 net loss widens to $136.7M; revenue up 17%; cuts workforce, advances DOE loan talks
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- Net loss of $136.7M vs $36.5M in Q1 2023, driven by $58.9M debt extinguishment loss and $23.8M unrealized fair value loss.
- Revenue of $4.2M (+17% YoY); product sales and recycling services revenue fell to $4.6M from $7.7M on lower nickel/cobalt prices.
- Adjusted EBITDA loss improved to $27.4M from $37.9M; ended Q1 with $109.1M cash.
- Closed $75M Glencore convertible note; DOE loan for up to $375M under review; workforce cuts to save ~$10M annually.
- Signed new/expanded recycling agreements with three top European EV OEMs; advancing Rochester Hub MHP approach cost estimates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828811/000162828024022456/0001628280-24-022456-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828811/000162828024022456/licy-20240510.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-022456

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