Li-Cycle Holdings Corp. (LICY) is soaring on the charts today, down -7.57% to trade at $7.46 at last check in premarket trading. On Wednesday, shares in Li-Cycle (LICY) rise 12.52% to close the day at $8.27. The volume of LICY shares traded was 3.11 million, which is higher than the average volume over the last three months of 1.70 million. During the trading session, the stock oscillated between $7.60 and $8.315.
Li-Cycle (LICY) had an earnings per share ratio of -1.39. LICY stock has gained 9.83% of its value in the previous five sessions and moved -4.83% over the past one month, but has lost -16.97% on a year-to-date basis. The stock’s 50-day moving average of $9.39 is above the 200-day moving average of $10.49. Moreover, LICY stock is currently trading at an RSI of 50.88. Li-Cycle stock is losing the momentum it has gained in the last session.
What made LICY stock spike at the last meeting?
Li-Cycle (LICY) is set to influence its imaginative Spoke and Hub Technologies to give a client-driven, finish-of-life answer for lithium-particle batteries while making an optional stock of basic battery materials. Lithium-particle battery-powered batteries are progressively controlling our reality in auto, energy stockpiling, customer gadgets, and other modern and family applications.
The world necessities further developed innovation and store network advancements to more readily oversee battery fabricating waste and end-of-life batteries and to fulfill the quickly developing need for basic and scant battery-grade natural substances through a shut circle arrangement.
Li-Cycle (LICY) this month finished the reclamation of its exceptional warrants (the “Warrants”) to buy normal portions of the Company that stayed remarkable at 5:00 pm New York City time on January 26, 2022 (the “Recovery Date”).
- On December 27, 2021, Li-Cycle reported that it would recover each of the Warrants extraordinary on the Redemption Date.
- The Warrants were reclaimed at a reclamation cost of $0.10 per Warrant, given that Warrant holders could choose to practice their Warrants for cash, at an activity cost of $11.50 per Common Share.
- Warrants were additionally reclaimed in the event that the Warrant holders give up their Warrants on a “credit only premise” (a “Make Whole Exercise”) for various not set in stone as per the provisions of the Warrant understanding.
- On January 11, 2022, LICY declared that holders who gave up their Warrants on a Make-Whole Exercise would get 0.253 Common Shares per Warrant.
- Out of 22,999,994 Warrants given, 9,678 Warrants were practiced at an activity cost of $11.50 per Common Share.
- Around 98% or 22,540,651 Warrants were practiced on a credit-only premise, bringing about the issuance of a total of 5,712,322 Common Shares.
- The leftover 449,665 Warrants remained unexercised on the Redemption Date and were recovered by LICY for cash.
Fate of Li-Cycle Warrants
Likewise, as of January 31, 2022, Li-Cycle (LICY) share capital comprised of 168,891,877 gave an extraordinary Common Shares and no Warrants. The LICY Warrants have stopped exchanging on the New York Stock Exchange.
