Freshfields is representing Li-Cycle Holdings Corp (“Li-Cycle”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, in its announced issuance of common stock in a private placement to LG Energy Solution, Ltd. and LG Chem, Ltd. (together, “LG”) for an aggregate purchase price of $50 million. The investment by LG is conditioned among other things on the parties entering into battery scrap supply and nickel sulphate offtake arrangements prior to March 13, 2022.  Li-Cycle will use the proceeds of the investment to support its planned hub and spoke development as well as its growth opportunities in North America, Europe and Asia. More details about the transaction can be found here.

Freshfields previously represented Li-Cycle in its de-SPAC transaction which closed in August 2021 and raised $580 million to support the company’s expansion and its issuance of a $100 million convertible note to Koch Strategic Platforms, LLC.

The Freshfields team was led by partners Paul Tiger and Andrea Merediz Basham and associates Iantha Stewart and Scott Blumenkranz.

ENDS