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 a $200 million convertible note to Glencore Ltd. Li-Cycle and Glencore concurrently announced the entry into a global feedstock supply agreement pursuant to which Glencore will supply manufacturing scrap and end-of-life lithium-ion batteries to Li-Cycle. The investment by Glencore is conditioned, among other things, on the parties entering into certain additional commercial agreements on or prior to May 31, 2022. More details about the transaction can be found here.

Freshfields also represented Li-Cycle in its de-SPAC transaction, which closed in August 2021 and raised $580 million to support the company’s expansion, and subsequently on its issuance of a $100 million convertible note to Koch Strategic Platforms, LLC and its issuance of $50 million of common stock in the aggregate to LG Energy Solution, Ltd. and LG Chem, Ltd .

The Freshfields team was led by Partners Paul Tiger and Andrea Merediz Basham and Associates Lucy Lei, Iantha Stewart and Tracy Zhang.

ENDS