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PDAC Stock: 13 Things for Lithium-Ion Battery Investors to Know About the Li-Cycle SPAC Merger

Li-Cycle is going public as the company prepares for a merger with special purpose acquisition company (SPAC) Peridot Acquisition (NYSE:PDAC) and PDAC stock is up.

Battery concept powering electric vehicle.

Source: Shutterstock

Here’s everything potential investors in PDAC stock need to know about the Li-Cycle SPAC merger.

  • The merger will have Peridot Acquisition changing its name to Li-Cycle Holdings Corp.
  • This will also see shares of PDAC stock change to the new LICY stock ticker.
  • Ajay Kochhar, co-founder, president and CEO of Li-Cycle, and Tim Johnston, co-founder and executive chairman, will lead the combined company.
  • The deal values Li-Cycle at a pre-money equity valuation of $975 million.
  • It also implies a combined company pro forma equity value of $1.67 billion.
  • Li-Cycle will have $615 million in gross proceeds to work with after the SPAC merger.
  • That includes $315 million in funding from a private investment in public equity (PIPE).
  • The SPAC merger has the unanimous support of both companies Boards of Directors.
  • It needs approval from regulators and shareholders before it can close.
  • Peridot Acquisition and Li-Cycle are expecting the deal to close in the second quarter of 2021.
  • Li-Cycle is a lithium-ion battery company with a focus on recycling components from old batteries.
  • The company says this focus allows it to salvage parts of dead lithium-ion batteries and reintroduce them to the supply chain.
  • This allows for a greener approach to battery production as demand increases alongside electric vehicles (EVs).

PDAC stock was up 3.4% as of Tuesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/02/pdac-stock-13-things-for-lithium-ion-battery-investors-to-know-about-the-li-cycle-spac-merger/.

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