Li-Cycle Merges with SPAC Peridot

Technology & Services
Industrial

Li-Cycle merger with Peridot


Summary

Li-Cycle Holdings Corp. (“Li-Cycle” or the “Company”) announced that it has closed its previously announced merger with the special purpose acquisition company Peridot Acquisition Corp. (“Peridot”) (NYSE: PDAC). Through the business combination, Li-Cycle common stock and warrants began trading on the New York Stock Exchange (NYSE: LICY and LICY.WS).

Baird served as a capital markets advisor to Li-Cycle Holdings Corp. on this transaction.

About

Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. Li-Cycle is headquartered in Mississauga, Canada.

Peridot was a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Peridot’s sponsor was an affiliate of Carnelian Energy Capital Management, L.P., an investment firm that focuses on opportunities in the North American energy space in partnership with best-in-class management teams. Alan Levande, Chairman and CEO, was previously Co-CEO at Covey Park Energy LLC and has broad experience across the power, utilities and renewables sector. Peridot is headquartered in Houston, Texas.
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Technology & Services
Industrial

Li-Cycle merger with Peridot

Date
August 2021
Company
Li-Cycle Holdings Corp.
Transaction
M&A - Sellside
Sectors
Technology & Services
Industrial
Verticals
Testing, Inspection, Certification & Compliance ("TICC")
Vehicle Supply
Asset Tracking & Mobile Resource Management
Target Location
North America
Acquiror Location
North America

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