NYSE Announces Delisting of Li-Cycle Holdings Corp.
New York, NY – The New York Stock Exchange (NYSE) made an important announcement today regarding the delisting of Li-Cycle Holdings Corp. (LICY) from the exchange. The decision was made by the staff of NYSE Regulation, effective immediately, citing non-compliance with the NYSE’s Listed Company Manual.
Reason for Delisting
According to a statement released by the NYSE, the delisting decision was based on Section 802.01C of the NYSE’s Listed Company Manual. This section outlines the exchange’s right to delist securities that do not meet the continued listing requirements. Specifically, the Company failed to maintain an average closing price of $1.00 per share over a period of 30 consecutive trading days.
Impact on Li-Cycle Holdings Corp.
The delisting of Li-Cycle Holdings Corp. from the NYSE may have significant implications for the Company. Delisting can result in reduced liquidity, increased costs, and potential damage to the Company’s reputation. It may also make it more difficult for the Company to attract new investors and raise capital in the future.
Impact on Individual Investors
For individual investors who own shares of Li-Cycle Holdings Corp., the delisting may not have an immediate impact on their holdings. However, trading in the Company’s common shares will be suspended on the NYSE, and investors may need to consider alternative trading platforms or brokerages to buy or sell their shares. It’s important for investors to stay informed about the Company’s plans and potential next steps.
Impact on the Global Market
The delisting of Li-Cycle Holdings Corp. from the NYSE is not expected to have a significant impact on the global market as a whole. However, it may send a signal to other companies that fail to meet the NYSE’s listing requirements, and could lead to increased scrutiny of other companies’ financial health and compliance.
Possible Next Steps for Li-Cycle Holdings Corp.
Li-Cycle Holdings Corp. has the option to appeal the NYSE’s decision or regain compliance with the exchange’s listing requirements. The Company may also choose to list its shares on another major stock exchange, such as the Nasdaq or Toronto Stock Exchange.
Conclusion
The delisting of Li-Cycle Holdings Corp. from the NYSE is a significant development that may have implications for the Company and its investors. It underscores the importance of maintaining compliance with exchange listing requirements and staying informed about market developments. For more information, investors are encouraged to contact their brokers or financial advisors.
- The New York Stock Exchange (NYSE) has announced the delisting of Li-Cycle Holdings Corp. (LICY)
- Trading in the Company’s common shares will be suspended immediately
- The decision was based on the Company’s failure to maintain an average closing price of $1.00 per share over a period of 30 consecutive trading days
- The delisting may impact the Company’s liquidity, costs, and reputation
- Individual investors may need to consider alternative trading platforms or brokerages to buy or sell their shares
- The delisting is not expected to have a significant impact on the global market as a whole
- Li-Cycle Holdings Corp. has the option to appeal the NYSE’s decision or regain compliance with the exchange’s listing requirements
