© Reuters.
TORONTO – Li-Cycle Holdings Corp, a North American and European leader in lithium-ion battery resource recovery, has been notified by the New York Stock Exchange (NYSE) of its non-compliance with listing standards of the Stock Exchange. The notice was issued because the Company’s stock has traded below the required minimum average closing price of $1.00 over a period of 30 consecutive trading days.
The company, founded in 2016, is known for its innovative approach to lithium-ion battery recycling. Li-Cycle’s proprietary technology focuses on extracting valuable materials such as lithium carbonate, nickel sulfate and cobalt sulfate from manufacturing waste and end-of-life batteries. This process is essential to supporting the sustainable supply chain of the growing electric vehicle and energy storage sectors.
In response to the New York Stock Exchange’s notice, Li-Cycle was given six months to resolve the issue of its share price. During this period, the company must return its average stock price above $1.00 for at least 30 consecutive trading days in order to again comply with NYSE listing requirements. If Li-Cycle does not meet this criterion within the specified time frame, it could face other consequences, including possible delisting from the stock exchange.
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2023-12-29 21:49:00
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