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Global lithium-ion battery resource recovery company, Li-Cycle (NYSE:LICY) gets a $75M strategic investment from Glencore and amended existing convertible note, with expected closing on or about March 25, 2024.
The company continues to work closely with the U.S. Department of Energy on the conditional commitment for a loan of up to $375M.
As part of the pause in construction of the Rochester Hub project, on November 1, 2023, Li-Cycle (LICY) implemented a cash preservation plan to reduce expenses and slow cash outflows.
Li-Cycle missed FY 2023 estimates, the stock price surged 6.5% on Tuesday during pre-market hours of trading.