CM-Equity AG Portfolio Company Li-Cycle Corp. starts trading on the New York Stock Exchange
Munich, 11 August 2021:
CM-Equity AG is an angel investor for the North-America based Li-Cycle Corp. (Now Li-Cycle Holdings Corp.). The company was founded in 2016 and is an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler. CM-Equity had been participant in multiple rounds of funding for the company in its startup phase from 2017-2019, and will continue to remain a strong shareholder of the company in the future.
Earlier this week the company had announced that it has completed its previously announced business combination with Peridot Acquisition Corp. (“Peridot”) and trading has begun on the NYSE today, August 11, 2021.
The business combination implies a pre-money equity valuation for Li-Cycle of $975 million and, when combined with the transaction proceeds, represents a combined company pro forma equity value of $1.55 billion. The transaction results in approximately $580 million of gross cash proceeds to Li-Cycle, after giving effect to redemptions, enabling the company to further proliferate its breakthrough commercial technology globally for the recycling of all types of lithium-ion batteries
A more detailed description of the transaction can be found in the prospectus filed by the Company with the SEC on July 15, 2021.
Read the full article on their website: here
About Li-Cycle Holdings Corp.
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.
CM-Equity is a 19 year old, according to §15 WpIG regulated financial institution from Munich.
CM-Equity was early involved as a pioneer in the field of digital asset management. With a fully licensed, interfaced capital market infrastructure platform for digital assets for companies, FinTechs and investors, CM-Equity has advanced to become one of the most popular players in the market for digital assets in Germany and Europe. The company wants to make the new digital capital markets 4.0 accessible to everyone and offers innovative and regulatory-compliant access to the most liquid trading venues while at the same time offering the most secure storage.
Michael Kott, email@example.com, +49 (0) 89 189047470
Press contacts: firstname.lastname@example.org