Peridot Acquisition said its stockholders voted in favor of the business combination agreement with battery maker Li-Cycle.
Approximately 11% of Peridot shares were redeemed, the SPAC said in a news release. As a result, Li-Cycle expects to receive approximately $580 million in gross proceeds at the time of the business combination.
The closing is anticipated on Aug. 10. Stock and warrants of Li-Cycle Holdings are expected to begin trading on the NYSE Aug. 11 under LICY and LICY WS. Read more.