Li-Cycle Holdings (LICY) said Wednesday it has priced a $15 million underwritten public offering in the US of 15 million units at $1 per unit.
The offering is expected to close Thursday.
The company said each unit includes one common share, or a pre-funded warrant, along with Series A and Series B warrants for additional shares.
The net proceeds from the offering, expected to close around Thursday, will be allocated toward working capital and general corporate purposes, Li-Cycle said.
Aegis Capital is managing the offering and has a 45-day option to purchase additional securities to cover over-allotments, the company added.
Shares of Li-Cycle were down more than 37% in recent early Wednesday trading.
Price: 0.96, Change: -0.56, Percent Change: -36.84
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