Local News

Li-Cycle notifies SEC on delay of 2023 annual report amid construction pause

todayMarch 7, 2024 4

share close

ROCHESTER, N.Y. (WROC) — Li-Cycle’s 2023 annual report will be filed late, according to a document filed to the US Securities and Exchange Commission.

The document says the company’s financial advisor, Moelis & Company LLC., will continue to work with Li-Cycle to negotiate financing to help the company increase its liquidity. It is expected that Li-Cycle will file the report, the 2023 Form 10-K, on March 15, 2024, at the latest.

In part, Li-Cycle said in the documents: “There can be no assurance that any financing or other transaction will occur or, if any such financing or other transaction occurs, that it will ultimately
be consummated, or that the Company’s efforts to strengthen its liquidity and financial position will be achieved.”

Full Form from Li-Cycle to the US Securities and Exchange Commission:

Li-Cycle announced back in October that it has stopped construction on its Rochester hub, later citing a delay in financing for the project. Last November, Li-Cycle announced it engaged with Moelis & Company as a financial advisor to help evaluate financial alternatives for the company.

As a result of the pause in construction, a class action lawsuit was filed against Li-Cycle, accusing the company of making misleading and incorrect statements. The company itself filed a lawsuit against a local construction firm.

Last January, Li-Cycle was told to get its stock up over $1 by the New York Stock Exchange. The company said it intended to solve the matter.

​ ROCHESTER, N.Y. (WROC) — Li-Cycle’s 2023 annual report will be filed late, according to a document filed to the US Securities and Exchange Commission.

The document says the company’s financial advisor, Moelis & Company LLC., will continue to work with Li-Cycle to negotiate financing to help the company increase its liquidity. It is expected that Li-Cycle will file the report, the 2023 Form 10-K, on March 15, 2024, at the latest.

In part, Li-Cycle said in the documents: “There can be no assurance that any financing or other transaction will occur or, if any such financing or other transaction occurs, that it will ultimatelybe consummated, or that the Company’s efforts to strengthen its liquidity and financial position will be achieved.”

Full Form from Li-Cycle to the US Securities and Exchange Commission:

Li-Cycles-SEC-filingDownload

Li-Cycle announced back in October that it has stopped construction on its Rochester hub, later citing a delay in financing for the project. Last November, Li-Cycle announced it engaged with Moelis & Company as a financial advisor to help evaluate financial alternatives for the company.

As a result of the pause in construction, a class action lawsuit was filed against Li-Cycle, accusing the company of making misleading and incorrect statements. The company itself filed a lawsuit against a local construction firm.

Last January, Li-Cycle was told to get its stock up over $1 by the New York Stock Exchange. The company said it intended to solve the matter. Read More BusinessRochesterFirst  

Written by:

Rate it

Previous post

Local News

Generation ROC: Churchville-Chili students learn life skills through kindness

CHURCHVILLE, N.Y. (WROC) — A group of high school students in the Churchville-Chili Central School District give meaning to keeping the Christmas spirit going year-round. They are taking their creative efforts at winter holiday decorations and turning it all into a very big check with a lot of heart behind it. The students in the Life Skills class practiced their sewing to make felt dolls depicting their favorite holiday icons like Buddy the Elf, Frosty the Snowman, and the Grinch. […]

todayMarch 7, 2024 3


Similar posts

Local News

Haitian resident seeking help to get his family to Rochester

ROCHESTER N.Y. (WROC) — Civil unrest has plagued the country of Haiti as violent gang leaders have taken control causing families to flee from their homes to seek refuge elsewhere. One Rochester resident being impacted is Edaire Louis, owner of African Haitian Cuisine and Market. he says he still has […]

todayApril 12, 2024 1

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *


Generated by Feedzy
0%