Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Li-Cycle Holdings Corp. (NYSE:LICY), currently trading near its 52-week low with a market capitalization of $28.61 million and down over 75% in the past year, recently reported that Conor Spollen, the company’s Chief Operating Officer, sold 318 common shares on January 27, 2025. These shares were sold at an average price of $1.075 per share, resulting in a total transaction value of $341.
The transaction was an automatic sell to cover tax liabilities arising from the vesting of restricted stock units (RSUs). Following this transaction, Spollen holds 92,381 shares, which include 78,462 RSUs previously awarded under the company’s 2021 Incentive Award Plan. Each RSU represents a contingent right to receive one common share of Li-Cycle Holdings Corp., subject to time-vesting conditions.
In other recent news, Li-Cycle Holdings Corp. has made significant strides in its financial structure and revenue growth. The company reported a 79% surge in Q3 2024 revenue to $8.4 million, mainly driven by increased recycling service revenue and favorable metal prices. Concurrently, Li-Cycle secured a $475 million loan agreement with the U.S. Department of Energy for the construction of the Rochester Hub project in New York.
To bolster its financial foundation, Li-Cycle expanded its agreements with Glencore (OTC:GLNCY) Canada Corporation, a key investor. This included a Note Guaranty, granting Glencore a first priority security interest in their assets. As a result of these financial adjustments, Glencore’s pro forma fully-diluted ownership in Li-Cycle increased to approximately 66%.
The company has also set the pricing for its public offering in the United States, anticipating gross proceeds of approximately $15 million. Analysts indicate that Li-Cycle operates with a significant debt burden of $435.8 million, suggesting potential liquidity challenges. Despite this, the company plans to allocate the net proceeds towards working capital and general corporate purposes.
These are among the recent developments in the company’s strategic efforts to manage its financial obligations and partnerships. Analysts have indicated that Li-Cycle anticipates a significant increase in recycling materials by 2030, driven by the rising number of electric vehicles and manufacturing scrap.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.