Li-Cycle Holdings Corp. (LICY), a company engaged in the lithium-ion battery resource recovery and lithium-ion battery recycling business, has gained an increase of 3.78% in aftermarket trading session and consequently is trading at $9.33 at the time of the writing. On Tuesday, LICY closed the day at $8.99 after rising by 3.45% during the mid-day session. The consistent increase could be attributed to the announcement of Redemption Fair Market Value.
Why LICY Increasing?
On Tuesday, LICY announced the Redemption Fair Market Value in connection with the previously announced redemption of its outstanding warrants for the purchase of common shares of the company that remain outstanding at 5:00 p.m. New York City time on January 26, 2022. The warrant holders who surrender their Warrants on a Make-Whole Exercise before the date of 26th January 2022 would receive 0.253 Common Shares per Warrant based on the Redemption Fair Market Value.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Q3 2021 Operational Results
On 9th September, LICY released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 31st July 2021. The company generated total revenue of $1.7 million during the quarter against $0.18 million for the same quarter of 2020. The total expenses bore by the company during the three months stood at $7.92 million against $1.9 million for the same three-month period of 2020. The net loss suffered by the company during the period was $6.89 million (or $2.88 per basic and diluted share) against $1.56 million (or $0.86 per basic and diluted share) for the same period of 2020.
Financial Results
Alongside the operational results, LICY also released the financial results of the quarter. The company had cash and cash equivalents of $2.3 million on 31st July 2021. The total current assets in possession of the company were $15.02 million, while the total assets stood at $49.4 million. The current liabilities were estimated to be $21.9 million, while the total liabilities were $47.07 million.
Future Outlook for LICY
During the last month, LICY has declined approximately 25%, owing to both markets related and company-specific factors. Looking ahead, the stock appears to be following the right trajectory, and is hoped that it would continue to do so in the future.
