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Freshfields advises Li-Cycle on business combination with SPAC Peridot Acquisition Corp.
Feb 16 2021
Freshfields is advising Li-Cycle on its business combination with SPAC Peridot Acquisition Corp. Upon closing, the combined company will be renamed Li-Cycle Holdings Corp. and will be listed on the New York Stock Exchange under the new ticker symbol “LICY.” The transaction includes a fully committed, upsized $315 million PIPE from investors including Neuberger Berman Funds, Franklin Templeton and Mubadala Capital, as well as Peridot sponsor Carnelian Energy Capital, existing Li-Cycle investor Moore Strategic Ventures and global marketing and strategic off-take partner Traxys S.A. The pro forma equity value of the combined company is approximately $1.67 billion. The transaction is expected to close in the second quarter of 2021.
Li-Cycle is North America’s largest lithium-ion battery resource recycling company and is headquartered in the Province of Ontario.
More details about the transaction can be found here.
The Freshfields corporate team is led by Paul Tiger and Andrea Basham and includes associates Lucy Lei, Briony Driscoll, Wael Zwain and Sophia Berger, with partner Michael Levitt consulting along the way. Partner Robert Scarborough and senior associate David Mitchell are advising on tax matters, partner Olivia Radin and associate Weronika Bukowski on compliance matters, partner Lori Goodman and associate Jeffrey Anand on benefits matters, partner Mena Kaplan and associate Marissa Yu on IP matters, special counsel Peter Jaffe on data/privacy matters, and counsel Elizabeth Bieber on certain governance matters.
ENDS
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global elite law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.
Freshfields is the only firm ranked by Chambers Global in Band 1 across the seven areas of antitrust, corporate/M&A, dispute resolution, international arbitration, tax, employee benefits, and public international law. For more information visit Freshfields.us.
This material is for general information only and is not intended to provide legal advice. Prior results do not guarantee a similar outcome.
Li-Cycle is North America’s largest lithium-ion battery resource recycling company and is headquartered in the Province of Ontario.
More details about the transaction can be found here.
The Freshfields corporate team is led by Paul Tiger and Andrea Basham and includes associates Lucy Lei, Briony Driscoll, Wael Zwain and Sophia Berger, with partner Michael Levitt consulting along the way. Partner Robert Scarborough and senior associate David Mitchell are advising on tax matters, partner Olivia Radin and associate Weronika Bukowski on compliance matters, partner Lori Goodman and associate Jeffrey Anand on benefits matters, partner Mena Kaplan and associate Marissa Yu on IP matters, special counsel Peter Jaffe on data/privacy matters, and counsel Elizabeth Bieber on certain governance matters.
ENDS
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global elite law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.
Freshfields is the only firm ranked by Chambers Global in Band 1 across the seven areas of antitrust, corporate/M&A, dispute resolution, international arbitration, tax, employee benefits, and public international law. For more information visit Freshfields.us.
This material is for general information only and is not intended to provide legal advice. Prior results do not guarantee a similar outcome.