Cover
Cover | 3 Months Ended |
Jan. 31, 2022 | |
Document Information [Line Items] | |
Document period end date | Jan. 31, 2022 |
Current fiscal year end date | --10-31 |
Amendment flag | false |
Central index key | 0001828811 |
Document fiscal year focus | 2022 |
Document fiscal period focus | Q1 |
Document Type | 6-K |
Registrant name | LI-CYCLE HOLDINGS CORP. |
Consolidated statements of fina
Consolidated statements of financial position - USD ($) | Jan. 31, 2022 | Oct. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 552,242,301 | $ 596,858,298 |
Accounts receivable | 5,815,394 | 4,072,701 |
Other receivables | 710,824 | 973,145 |
Prepayments and deposits | 19,572,133 | 8,646,998 |
Inventory | 2,881,047 | 1,197,807 |
Current assets | 581,221,699 | 611,748,949 |
Non-current assets | ||
Plant and equipment | 41,369,644 | 26,389,463 |
Right-of-use assets | 28,121,604 | 27,009,760 |
Non-current assets | 69,491,248 | 53,399,223 |
Total assets | 650,712,947 | 665,148,172 |
Current liabilities | ||
Accounts payable and accrued liabilities | 16,849,956 | 18,701,116 |
Lease liabilities | 4,574,570 | 2,868,795 |
Loans payable | 7,752 | 7,752 |
Current liabilities | 21,432,278 | 21,577,663 |
Non-current liabilities | ||
Lease liabilities | 26,007,652 | 26,496,074 |
Loans payable | 29,363 | 31,996 |
Convertible debt | 89,445,172 | 100,877,838 |
Warrants | 0 | 82,109,334 |
Restoration provisions | 330,776 | 334,233 |
Non-current liabilities | 115,812,963 | 209,849,475 |
Total liabilities | 137,245,241 | 231,427,138 |
Shareholders' equity | ||
Share capital | 718,080,377 | 672,079,154 |
Contributed surplus | 8,225,530 | 3,026,721 |
Accumulated deficit | (212,541,589) | (241,088,229) |
Accumulated other comprehensive loss | (296,612) | (296,612) |
Shareholders' equity | 513,467,706 | 433,721,034 |
Liabilities and shareholders' equity | $ 650,712,947 | $ 665,148,172 |
Consolidated statements of loss
Consolidated statements of loss and comprehensive loss - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Revenue | ||
Product sales | $ 3,622,447 | $ 912,866 |
Recycling services | 215,523 | 104,374 |
Revenue | 3,837,970 | 1,017,240 |
Expenses | ||
Employee salaries and benefits | 7,778,660 | 1,698,199 |
Professional fees | 2,874,039 | 2,434,134 |
Share-based compensation | 5,198,809 | 746,171 |
Raw materials and supplies | 1,413,842 | 414,102 |
Office, administrative and travel | 2,844,540 | 304,241 |
Depreciation | 1,834,075 | 527,378 |
Research and development | 341,786 | 527,195 |
Freight and shipping | 210,361 | 291,050 |
Plant facilities | 437,070 | 214,134 |
Marketing | 448,945 | 141,655 |
Change in Finished Goods Inventory | (811,434) | (77,632) |
Expenses by nature | 22,570,693 | 7,220,627 |
Loss from operations | (18,732,723) | (6,203,387) |
Other (income) expense | ||
Fair value (gain) loss on financial instruments | (50,871,565) | 0 |
Interest expense | 3,741,242 | 250,689 |
Foreign exchange (gain) loss | (11,453) | 391,964 |
Interest income | (137,587) | (717) |
Other (income) expense | (47,279,363) | 641,936 |
Net loss | 28,546,640 | (6,845,323) |
Other comprehensive income (loss) | ||
Net profit (loss) and comprehensive income (loss) | $ 28,546,640 | $ (6,845,323) |
Loss per common share - basic (in dollars per share) | $ 0.17 | $ (0.07) |
Loss per common share - diluted (in dollars per share) | $ 0.17 | $ (0.07) |
Consolidated statements of chan
Consolidated statements of changes in equity | USD ($)$ / sharesshares | Peridot Acquisition Corp.USD ($)shares | Stock optionsUSD ($) | Restricted share unitsUSD ($) | Series C SharesUSD ($) | Share capitalUSD ($)shares | Share capitalRestricted share unitsUSD ($)shares | Share capitalSeries C SharesUSD ($)shares | Contributed surplusUSD ($) | Contributed surplusStock optionsUSD ($) | Contributed surplusRestricted share unitsUSD ($) | Accumulated deficitUSD ($) | Accumulated other comprehensive income (loss)USD ($) |
Shareholders' equity, beginning balance (in shares) at Oct. 31, 2020 | shares | 83,361,291 | ||||||||||||
Shareholders' equity, beginning balance at Oct. 31, 2020 | $ 1,440,730 | $ 15,441,600 | $ 824,683 | $ (14,528,941) | $ (296,612) | ||||||||
Changes in equity [abstract] | |||||||||||||
Stock option expense | 2,877,691 | $ 141,228 | 2,877,691 | $ 141,228 | |||||||||
Share issuance (in shares) | shares | 11,220,218 | ||||||||||||
Share issuance | $ 21,620,000 | $ 21,620,000 | |||||||||||
Shares issued for non-cash costs (in shares) | shares | 478,920 | ||||||||||||
Equity issued for non-cash costs | 0 | $ 455,055 | (455,055) | ||||||||||
Comprehensive loss | (6,845,323) | (6,845,323) | |||||||||||
Shareholders' equity, ending balance (in shares) at Jan. 31, 2021 | shares | 95,060,429 | ||||||||||||
Shareholders' equity, ending balance at Jan. 31, 2021 | 16,356,635 | $ 37,516,655 | 510,856 | (21,374,264) | (296,612) | ||||||||
Changes in equity [abstract] | |||||||||||||
Warrant liability | $ 82,109,334 | ||||||||||||
Shareholders' equity, beginning balance (in shares) at Oct. 31, 2021 | shares | 163,179,655 | ||||||||||||
Shareholders' equity, beginning balance at Oct. 31, 2021 | $ 433,721,034 | $ 672,079,154 | 3,026,721 | (241,088,229) | (296,612) | ||||||||
Changes in equity [abstract] | |||||||||||||
Exercise of warrants (in shares) | shares | (22,540,651) | 5,712,222 | |||||||||||
Exercise of warrants | $ 46,001,223 | $ 46,001,223 | 0 | ||||||||||
Restricted Share Units settled in shares (in shares) | shares | 0 | ||||||||||||
Restricted Share Units settled in shares | $ 2,321,118 | $ 0 | $ 2,321,118 | ||||||||||
Comprehensive loss | 28,546,640 | 28,546,640 | 0 | ||||||||||
Shareholders' equity, ending balance (in shares) at Jan. 31, 2022 | shares | 168,891,877 | ||||||||||||
Shareholders' equity, ending balance at Jan. 31, 2022 | $ 513,467,706 | $ 718,080,377 | 8,225,530 | (212,541,589) | (296,612) | ||||||||
Changes in equity [abstract] | |||||||||||||
Exercise price of warrants (in dollars per share) | $ / shares | $ 11.5 | ||||||||||||
Redemption price of warrants (in dollars per share) | $ / shares | $ 0.1 | ||||||||||||
Shareholders' equity, ending balance (in shares) at Jan. 31, 2022 | shares | 168,891,877 | ||||||||||||
Shareholders' equity, ending balance at Jan. 31, 2022 | $ 513,467,706 | $ 718,080,377 | $ 8,225,530 | $ (212,541,589) | $ (296,612) | ||||||||
Changes in equity [abstract] | |||||||||||||
Number of warrants assumed in acquisition (in shares) | shares | 0 | ||||||||||||
Warrant liability | $ 0 |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Operating activities | ||
Net profit (loss) for the year | $ 28,546,640 | $ (6,845,323) |
Items not affecting cash | ||
Share-based compensation | 5,198,809 | 746,171 |
Depreciation | 1,834,075 | 527,378 |
Amortization of government grants | 0 | (14,062) |
Loss on disposal of assets | 0 | 13,399 |
Foreign exchange (gain) loss on translation | (362,214) | 319,780 |
Fair value (gain) loss on financial instruments | (50,871,565) | 0 |
Interest expense/income | 3,265,608 | 0 |
Cash flows from (used in) operations before changes in working capital | (12,388,647) | (5,252,657) |
Changes in non-cash working capital items | ||
Accounts receivable | (1,742,693) | (836,548) |
Other receivables | 262,321 | (193,999) |
Prepayments and deposits | 2,071,196 | (215,689) |
Inventory | (1,683,240) | 42,383 |
Accounts payable and accrued liabilities | (5,202,491) | (249,677) |
Net cash provided by operating activities | (18,683,554) | (6,706,187) |
Investing activity | ||
Purchases of plant and equipment | (12,161,073) | (2,837,842) |
Prepaid equipment deposits | (13,001,681) | 0 |
Proceeds from disposal of plant and equipment | 0 | 16,866 |
Net cash used in investing activities | (25,162,754) | (2,820,976) |
Financing activities | ||
Proceeds from exercise of warrants | 65,180 | 0 |
Proceeds from loans payable | 0 | 1,503,200 |
Proceeds from government grants | 0 | 14,062 |
Repayment of lease liabilities | (833,334) | (159,293) |
Repayment of loans payable | (1,535) | (300,993) |
Net cash used in financing activities | (769,689) | 22,676,976 |
Net change in cash and cash equivalents | (44,615,997) | 13,149,813 |
Cash and cash equivalents, beginning of period | 596,858,298 | 663,557 |
Cash and cash equivalents, end of period | 552,242,301 | 13,813,370 |
Non-cash investing activities | ||
Accrual for purchase of plant and equipment | 3,351,331 | 635,804 |
Non-cash financing activities | ||
Equity issued for non-cash costs | 0 | 455,055 |
Interest paid | 475,634 | 250,689 |
Private Shares | ||
Financing activities | ||
Proceeds from share issuance, net of share issuance costs | $ 0 | $ 21,620,000 |
Nature of operations and busine
Nature of operations and business combination | 3 Months Ended |
Jan. 31, 2022 | |
Nature Of Operations [Abstract] | |
Nature of operations and business combination | Nature of operations Nature of Operations Li-Cycle’s core business model is to build, own and operate recycling plants tailored to regional needs. Li-Cycle’s Spoke & Hub Technologies™ provide an environmentally friendly resource recovery solution that addresses the growing global lithium-ion battery recycling challenges, supporting the global transition toward electrification. Li-Cycle Holdings Corp. and its subsidiaries, collectively ("Li-Cycle" or the "Company") started their business as Li-Cycle Corp. Li-Cycle Corp was incorporated in Ontario, Canada under the Business Corporations Act (Ontario) on November 18, 2016. On March 28, 2019, Li-Cycle Corp. incorporated a wholly owned subsidiary, Li-Cycle Inc., under the General Corporation Law of the State of Delaware. This subsidiary operates the Company’s U.S. Spoke facilities. On September 2, 2020, Li-Cycle Corp. incorporated a wholly owned subsidiary, Li-Cycle North America Hub, Inc., under the General Corporation Law of the State of Delaware. This subsidiary is developing the Company’s first commercial Hub, in Rochester, New York. On August 10, 2021, in accordance with the plan of arrangement to reorganize Li-Cycle Corp., the Company finalized a business combination (the "Business Combination") with Peridot Acquisition Corp., and the combined company was renamed Li-Cycle Holdings Corp. On closing, the common shares of Li-Cycle Holdings Corp. were listed on the New York Stock Exchange and commenced trading under the symbol “LICY”. |
Significant accounting policies
Significant accounting policies | 3 Months Ended |
Jan. 31, 2022 | |
List Of Accounting Policies [Abstract] | |
Significant accounting policies | Significant accounting policies (a) Statement of compliance These condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) under International Accounting Standard (IAS) 34 – Interim Financial Reporting. Except as described below, these financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as outlined in Note 2, Significant accounting policies in the Company’s consolidated financial statements for the year ended October 31, 2021. These financial statements do not include all the notes required in annual financial statements. These condensed consolidated interim financial statements were approved and authorized for issue by the Board of Directors on March 16, 2022. (b) Basis of consolidation These condensed consolidated interim financial statements include the accounts of the Company and its subsidiaries. The Company’s seven subsidiaries are entities controlled by the Company. Control exists when the Company has power over an investee, when the Company is exposed, or has rights, to variable returns from the investee and when the Company has the ability to affect those returns through its power over the investee. The subsidiaries are included in the condensed consolidated interim financial results of the Company from the effective date of incorporation up to the effective date of disposition or loss of control. The Company’s principal subsidiaries and their geographic location as at January 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% Intercompany transactions, balances and unrealized gains/losses on transactions between the Company and its subsidiaries are eliminated. (c) Basis of preparation These condensed consolidated interim financial statements are presented in U.S. dollars, which is the Company's functional currency. (d) New and revised IFRS Standards issued but not yet effective Interest Rate Benchmark Reform - Phase 2 The IASB has published Interest Rate Benchmark Reform - Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) with amendments that address issues that might affect financial reporting after the reform of an interest rate benchmark, including its replacement with alternative benchmark rates. The amendments are effective for annual reporting periods beginning on or after January 1, 2021. The Company assessed the revised impact of the amendments and concluded that they had no impact on the condensed consolidated interim financial statements At the date of authorization of these financial statements, the Company has not applied the following new and revised IFRS Standards that have been issued but are not yet effective. Amendments to IFRS 3 Reference to the Conceptual Framework IFRS 17 (including the June 2020 amendments to IFRS 17) Insurance Contracts Annual Improvements to IFRS Standards 2018-2020 Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, IFRS 16 Leases, and IAS 41 Agriculture Amendments to IAS 1 Disclosure of Accounting Policies Amendments to IAS 8 Definition of Accounting Estimates Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to IAS 16 Property, Plant and Equipment—Proceeds before Intended Use Amendments to IAS 37 Onerous Contracts—Cost of Fulfilling a Contract The adoption of the Standards listed above are not expected to have a material impact on the financial statements of the Company in future periods, except as noted below. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The Board has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. The amendments to IAS 1 are effective for annual periods beginning on or after 1 January 2023, with earlier application permitted and are applied prospectively. The Company is assessing the potential impact of these amendments. |
Accounts receivable
Accounts receivable | 3 Months Ended |
Jan. 31, 2022 | |
Trade and other current receivables [abstract] | |
Accounts receivable | Accounts receivable January 31, 2022 October 31, 2021 $ $ Trade Receivables 5,815,394 4,072,701 Total accounts receivable 5,815,394 4,072,701 Harmonized Sales Taxes receivable 710,824 379,814 Other — 593,331 Total other receivables 710,824 973,145 For product sales, the Company estimates the amount of consideration to which it expects to be entitled under provisional pricing arrangements. For the three months ended January 31, 2022, the fair value gain arising from changes in estimates was $1,738,469 (three months ended January 31, 2021: $275,503) included in the respective accounts receivable balance. An insignificant portion of the receivables relate to services revenue which is initially measured at fair value and subsequently at amortized cost. For the three months ended January 31, 2022 and October 31, 2021, the Company has assessed an allowance for credit loss of $nil for service-related receivables based on its past experience, the credit ratings of its existing customers and economic trends. |
Prepayments and deposits
Prepayments and deposits | 3 Months Ended |
Jan. 31, 2022 | |
Prepayments And Deposits [Abstract] | |
Prepayments and deposits | Prepayments and deposits January 31, 2022 October 31, 2021 $ $ Prepaid lease deposits 1,315,426 886,951 Prepaid equipment deposits 13,001,681 3,231,836 Prepaid insurance 2,337,920 3,839,880 Other prepaids 2,917,107 688,331 19,572,133 8,646,998 Other prepaids consist principally of parts and consumables, deposits, subscriptions, and environmental financial assurance. |
Inventory
Inventory | 3 Months Ended |
Jan. 31, 2022 | |
Inventories [Abstract] | |
Inventory | Inventory January 31, 2022 October 31, 2021 $ $ Raw material 1,722,222 850,416 Finished goods 1,158,825 347,391 2,881,047 1,197,807 The cost of inventories recognized as an expense during the three months ended January 31, 2022 was $2,446,381 (three months ended January 31, 2021: $1,181,572). |
Plant and equipment
Plant and equipment | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Plant and equipment | Plant and equipment Assets under construction Plant equipment Computer equipment Storage containers Vehicles Leasehold improvements Total $ $ $ $ $ $ $ Cost At October 31, 2021 15,638,165 6,275,419 196,273 67,619 179,298 6,219,456 28,576,230 Additions 14,784,027 — 162,310 — 62,000 504,067 15,512,404 Transfers from Assets under construction (1,528,606) 1,528,606 — — — — — At January 31, 2022 28,893,586 7,804,025 358,583 67,619 241,298 6,723,523 44,088,634 Accumulated depreciation At October 31, 2021 — (1,549,700) (8,645) (14,172) (49,314) (564,936) (2,186,767) Depreciation — (350,489) (25,036) (1,691) (11,149) (143,858) (532,223) At January 31, 2022 — (1,900,189) (33,681) (15,863) (60,463) (708,794) (2,718,990) Carrying amounts — At October 31, 2021 15,638,165 4,725,719 187,628 53,447 129,984 5,654,520 26,389,463 At January 31, 2022 28,893,586 5,903,836 324,902 51,756 180,835 6,014,729 41,369,644 |
Share capital and share-based c
Share capital and share-based compensation | 3 Months Ended |
Jan. 31, 2022 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share capital and share-based compensation | Authorized share capital Li-Cycle Corp. is authorized to issue an unlimited number of voting common shares, Class A non-voting common shares, preference shares and Class A preferred shares, in each case without par value. All issued shares are fully paid. For retrospective presentation, the number of Li-Cycle Corp. common shares and Class A preferred shares on the Condensed consolidated interim Statements of Changes in Equity have been scaled by the Business Combination exchange ratio of 1:39.91 for periods prior to the completion of the Business Combination on August 10, 2021. On November 13, 2020, Li-Cycle Corp. completed a Series C private placement with two entities to purchase 281,138 Class A preferred shares at a price of $81.81 per share, for total proceeds of $23,000,000 and incurred transaction fees of $1,380,000. On January 25, 2021, Li-Cycle Corp. issued 12,000 shares as full and final satisfaction of all obligations under a consulting agreement for services the Company received up to May 2020. Between June 11, 2021 and June 24, 2021, four employees exercised stock options for a total of 25,664 common shares of Li-Cycle Corp., at an aggregate exercise price of $169,105. Li-Cycle Holdings Corp. is authorized to issue an unlimited number of voting common shares without par value. All issued shares are fully paid. On August 10, 2021, the Company finalized the Business Combination described in Note 1. All outstanding common shares and Class A preferred shares of Li-Cycle Corp., 2,407,535 in total, were exchanged for 96,084,679 common shares of Li-Cycle Holdings Corp. at the exchange ratio of 1:39.91. Li-Cycle Holdings Corp. issued an additional 65,671,374 common shares for net proceeds of $525,329,273. As part of this transaction, all outstanding 9,829 Restricted Share Units of Li-Cycle Corp. were settled by issuance of additional 392,276 common shares of Li-Cycle Holdings Corp. and a cashless exercise of 28,779 stock options of Li-Cycle Corp. resulted in the issuance of an additional 1,031,226 common shares of Li-Cycle Holdings Corp. Between October 15 and December 3, 2021, warrant holders exercised 2,082 warrants for a total of 2,082 common shares of Li-Cycle Holdings Corp. at an aggregate exercise price of $23,943. During the warrant redemption period of December 27, 2021 to January 28, 2022, warrant holders exercised 7,596 warrants for 7,596 common shares of Li-Cycle Holdings Corp. at an aggregate exercise price of $87,354, and 22,540,651 warrants were surrendered by holders in the Make-Whole Exercise resulting in the issuance of 5,702,644 common shares of Li-Cycle Holdings Corp. at an aggregate share capital impact of 45,868,707. Long-term incentive plans Stock options For stock options issued under the Company's Long Term-Incentive Plan ("LTIP"), each of the Company's stock options converts into one common share of the Company on exercise. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. The vesting period is one-third on the first-year anniversary of the grant of the option, and one-third every consecutive year thereafter. If an options remains unexercised after a period of 10 years from the date of grant, the option expires. Options are forfeited if the recipient terminates their contract with the Company before the options vest. A summary of stock option activities is as follows: Number of Weighted average $ Balance – October 31, 2021 5,296,553 2.81 Granted 592,102 7.88 Balance – January 31, 2022 5,888,655 3.32 As at January 31, 2022, 4,553,635 of the stock options (October 31, 2021: 4,242,707) were exercisable. A summary of the outstanding stock options is as follows: Number of Exercise price $ Expiration dates September 11, 2022 399,100 0.02 April 10, 2023 798,200 0.02 April 10, 2023 199,231 0.36 April 1, 2024 171,613 0.36 July 17, 2024 865,244 0.36 December 16, 2029 99,775 1.08 April 21, 2030 439,010 1.08 July 19, 2030 371,163 1.08 November 30, 2030 420,452 2.17 February 11, 2031 478,920 2.17 August 10, 2031 1,053,846 10.93 November 22, 2031 31,725 13.20 January 31, 2032 560,377 7.58 5,888,655 The Company recognized total expenses of $2,877,691 related to stock options during the three months ended January 31, 2022 (2021: $141,228). The fair value of the stock options granted during the three months ended January 31, 2022 was determined to be $2,911,807 (2021: $934,890) using the Black-Scholes Merton option pricing model. The assumptions used in the stock option pricing model for the grants during the three months ended January 31, 2022 were as follows: Risk free interest rate 1.44% - 1.69% Expected life of options 6 years Expected dividend yield 0.0% Expected stock price volatility 65% - 70% Expected forfeiture rate 0.0% Expected volatility was determined by calculating the average historical volatility of a group of listed entities that are considered similar in nature to the Company. Restricted share units Under the terms of the Company's 2021 LTIP, restricted share units ("RSUs") of Li-Cycle Holdings Corp. have been issued to executives, directors, employees and advisors. The RSU vesting periods ranged from several months to 3 years. The RSUs represent the right to receive common shares from the Company in an amount equal to the fair market value of an common share of Li-Cycle Holdings Corp. at the time of distribution. RSUs issued under the 2021 LTIP are expected to be settled in common shares. RSUs issued under the 2021 LTIP are classified as equity on the Condensed consolidated interim statement of financial position. The Company recognized share-based compensation expense relating to RSUs totaling $2,321,118 in the three months ended January 31, 2022 (three months ended January 31, 2021: $604,943). A summary of RSU activities is as follows: Number of Weighted average Li-Cycle Holdings Corp RSUs share price on grant date Balance – October 31, 2021 716,763 $10.93 Granted 1,266,804 $8.79 Balance – January 31, 2022 1,983,567 $9.56 As of January 31, 2022, none of outstanding RSUs had vested. RSUs granted in the three months ended January 31, 2022 vest at a rate of 1/3 per year. |
Financial instruments and finan
Financial instruments and financial risk factors | 3 Months Ended |
Jan. 31, 2022 | |
Financial Instruments [Abstract] | |
Financial instruments and financial risk factors | Financial instruments and financial risk factors Fair values The Company’s financial instruments consist of cash, accounts receivables, accounts payable and accrued liabilities, loans payable. The carrying amounts of cash, Harmonized Sales Taxes receivable, other receivables, accounts payable and accrued liabilities approximately fair value due to the short-term maturity of these instruments. Fair value hierarchy levels 1 to 3 are based on the degree to which the fair value is observable: • Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e. derived from prices); and • Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). There were no transfers between the levels during the current or prior year. The Company’s financial assets measured at fair value on a recurring basis are measured under level 1 of the hierarchy and were calculated as follows: Balance Level 2 $ $ As at January 31, 2022 Accounts receivable 5,815,394 5,815,394 5,815,394 5,815,394 As at October 31, 2021 Accounts receivable 4,072,701 4,072,701 4,072,701 4,072,701 See Note 3 above for additional details related to measurement of accounts receivable. The Company’s financial liabilities measured at fair value on a recurring basis are measured under level 1 and 2 of the hierarchy and were calculated as follows: Balance Level 1 Level 2 $ $ $ As at January 31, 2022 Conversion feature of convertible debt (see Note 10) 14,330,664 — 14,330,664 14,330,664 — 14,330,664 As at October 31, 2021 Conversion feature of convertible debt (see Note 10) 29,028,938 — 29,028,938 Warrants (see Note 11) 82,109,334 53,549,989 28,559,344 111,138,272 53,549,989 57,588,282 Currency risk The Company is exposed to currency risk as its cash is mainly denominated in U.S. dollars, but its operations require Canadian dollars and other currencies. At January 31, 2022, the Company had Canadian dollar denominated cash of approximately Cdn. $3,163,333 and Canadian dollar denominated net liabilities and loans payable of approximately Cdn. $25,289,808. The remaining amounts were denominated in U.S. dollars and immaterial amounts of other currencies. Gains and losses arising upon translation of these amounts into U.S. dollars for inclusion in the condensed consolidated interim financial statements are recorded in other income and expenses as foreign exchange. A 5% strengthening of the Canadian dollar versus the U.S. dollar, at January 31, 2022, would have increased the foreign exchange loss for the year by approximately $868,379 while a 5% weakening of the Canadian dollar would have had approximately the equal but opposite effect. This analysis assumes that all other variables remain constant. Interest rate risk Interest rate risk is the risk arising from the effect of changes in prevailing interest rates on the Company’s financial instruments. The Company is exposed to interest rate risk, as it has variable interest rate debt, see Note 10. Credit, liquidity, and market risks Credit risks associated with cash are minimal as the Company deposits the majority of its cash with a large Canadian financial institution. The Company’s credit risks associated with receivables are managed and exposure to potential loss is assessed as minimal. The Company's revenue and accounts receivable primarily come from two key customers, further disclosed in Note 16. The Company manages this risk by engaging with reputable multi- national corporations in stable jurisdictions and performing a review of a potential customer's financial health prior to engaging in business. Management established an appropriate liquidity risk management framework for the management of the Company’s short-term, medium and long-term funding and liquidity requirements. Capital risk management The Company manages its capital to ensure that entities in the Company will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. The capital structure of the Company consists of net debt (borrowings after deducting cash and cash equivalents) and equity of the Company (comprising issued share capital, contributed surplus and accumulated deficit as disclosed in Note 12). |
Right-of-use assets
Right-of-use assets | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure Of Leases [Abstract] | |
Right-of-use assets | Right - of-use assets Premises Equipment Total Cost $ $ $ At October 31, 2021 28,821,956 133,769 28,955,725 Additions & modifications 2,144,896 59,939 2,204,835 At January 31, 2022 30,966,852 193,708 31,160,560 Accumulated depreciation At October 31, 2021 (1,894,179) (51,786) (1,945,965) Depreciation (1,293,297) (8,555) (1,301,852) Disposals 208,861 — 208,861 At January 31, 2022 (2,978,615) (60,341) (3,038,956) Carrying amounts At October 31, 2021 26,927,777 81,983 27,009,760 At January 31, 2022 27,988,237 133,367 28,121,604 The weighted average lease term is five years. |
Commitments
Commitments | 3 Months Ended |
Jan. 31, 2022 | |
Commitments [Abstract] | |
Commitments | Commitments As of January 31, 2022, there were $124,483,550 in committed purchase orders or agreements for equipment and services (October 31, 2021:$6,858,617). |
Loss per share
Loss per share | 3 Months Ended |
Jan. 31, 2022 | |
Earnings per share [abstract] | |
Loss per share | per share For comparability, the weighted average number of ordinary shares and the number of potential common shares have been scaled by the Business Combination exchange ratio of 1:39.91 for periods prior to the completion of the business combination on August 10, 2021. three months ended January 31, 2022 2021 Net profit (loss) $ 28,546,640 $ (6,845,323) Weighted average number of common shares 163,844,557 93,474,963 Effect of dilutive securities Stock options 3,927,811 — Restricted share units 929,982 — Convertible debt — — Warrants 2,182 — Effect of dilutive securities 4,859,975 — Dilutive number of shares 168,704,532 93,474,963 Basic earnings (loss) per share $ 0.17 $ (0.07) Diluted earnings (loss) per share $ 0.17 $ (0.07) Adjustments for diluted loss per share were not made for the three months ended January 31, 2021 as they would be anti-dilutive in nature. The following table represents instruments that could potentially dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings per share because they are antidilutive for the periods presented: January 31, January 31, 2022 2021 Stock options 1,645,948 5,786,950 Convertible debt 7,627,816 — 9,273,764 5,786,950 |
Segment reporting
Segment reporting | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Segment reporting | Segment reporting The Condensed consolidated interim financial data presented in these financial statements is reviewed regularly by the Company’s chief operating decision maker (“CODM”) for making strategic decisions, allocations resources and assessing performance. The Corporation’s CODM is its Chief Executive Officer. During the three months ended January 31, 2022, the Company operated in Canada and the United States. Management has concluded that the customers, and the nature and method of distribution of goods and services delivered, if any, to these geographic regions are similar in nature. The risks and returns across the geographic regions are not dissimilar; therefore, the Company operates as a single operating segment. The following is a summary of the Company’s geographical information: Canada United States Total $ $ $ Revenues Three months ended January 31, 2022 1,254,409 2,583,561 3,837,970 Three Months Ended January 31, 2021 950,206 67,034 1,017,240 Non-current assets Three months ended January 31, 2022 15,228,349 54,262,899 69,491,248 Year ended October 31, 2021 15,476,877 37,922,346 53,399,223 The Company does not currently have active operations in any other geographical regions. |
Subsequent events
Subsequent events | 3 Months Ended |
Jan. 31, 2022 | |
Events After Reporting Period [Abstract] | |
Subsequent events | Subsequent events On December 13, 2021, the Company entered into Subscription Agreements (the “LG Subscription Agreements”) with each of LG Energy Solution ("LGES") and LG Chem ("LGC"). As part of these agreements, LGES and LGC agreed, subject to certain conditions, including execution of certain offtake agreements with LGES, LGC and Traxys North America LLC ("Traxys") on or prior to March 13, 2022 (the “Outside Date”), to subscribe for 2,208,480 each (or 4,416,960 in aggregate) of the Company’s common shares for a purchase price of $25,000,000 each (or $50,000,000 in aggregate) in transactions exempt from registration under the Securities Act. On March 11, 2022, the Company entered into amended and restated Subscription Agreements with each of LGES and LGC that, among other things, amended the LG Subscription Agreements as follows: the Outside Date has been extended to April 22, 2022 and the commercial agreements to be entered into before the Outside Date as a condition to closing of the Subscription shall include: (i) a nickel sulphate offtake agreement between LGES, a subsidiary |
Significant accounting polici_2
Significant accounting policies (Policies) | 3 Months Ended |
Jan. 31, 2022 | |
List Of Accounting Policies [Abstract] | |
Statement of compliance | Statement of compliance These condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) under International Accounting Standard (IAS) 34 – Interim Financial Reporting. Except as described below, these financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as outlined in Note 2, Significant accounting policies in the Company’s consolidated financial statements for the year ended October 31, 2021. These financial statements do not include all the notes required in annual financial statements. These condensed consolidated interim financial statements were approved and authorized for issue by the Board of Directors on March 16, 2022. |
Basis of consolidation | Basis of consolidationThese condensed consolidated interim financial statements include the accounts of the Company and its subsidiaries. The Company’s seven subsidiaries are entities controlled by the Company. Control exists when the Company has power over an investee, when the Company is exposed, or has rights, to variable returns from the investee and when the Company has the ability to affect those returns through its power over the investee. The subsidiaries are included in the condensed consolidated interim financial results of the Company from the effective date of incorporation up to the effective date of disposition or loss of control. The Company’s principal subsidiaries and their geographic location as at January 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% Intercompany transactions, balances and unrealized gains/losses on transactions between the Company and its subsidiaries are eliminated. |
Basis of preparation | Basis of preparation These condensed consolidated interim financial statements are presented in U.S. dollars, which is the Company's functional currency. (d) New and revised IFRS Standards issued but not yet effective Interest Rate Benchmark Reform - Phase 2 The IASB has published Interest Rate Benchmark Reform - Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) with amendments that address issues that might affect financial reporting after the reform of an interest rate benchmark, including its replacement with alternative benchmark rates. The amendments are effective for annual reporting periods beginning on or after January 1, 2021. The Company assessed the revised impact of the amendments and concluded that they had no impact on the condensed consolidated interim financial statements At the date of authorization of these financial statements, the Company has not applied the following new and revised IFRS Standards that have been issued but are not yet effective. Amendments to IFRS 3 Reference to the Conceptual Framework IFRS 17 (including the June 2020 amendments to IFRS 17) Insurance Contracts Annual Improvements to IFRS Standards 2018-2020 Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, IFRS 16 Leases, and IAS 41 Agriculture Amendments to IAS 1 Disclosure of Accounting Policies Amendments to IAS 8 Definition of Accounting Estimates Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to IAS 16 Property, Plant and Equipment—Proceeds before Intended Use Amendments to IAS 37 Onerous Contracts—Cost of Fulfilling a Contract The adoption of the Standards listed above are not expected to have a material impact on the financial statements of the Company in future periods, except as noted below. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The Board has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. The amendments to IAS 1 are effective for annual periods beginning on or after 1 January 2023, with earlier application permitted and are applied prospectively. The Company is assessing the potential impact of these amendments. |
Significant accounting polici_3
Significant accounting policies (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
List Of Accounting Policies [Abstract] | |
Summary of Principal Subsidiaries and their Geographic Location | The Company’s principal subsidiaries and their geographic location as at January 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% |
Summary of plant and equipment | Assets under construction Plant equipment Computer equipment Storage containers Vehicles Leasehold improvements Total $ $ $ $ $ $ $ Cost At October 31, 2021 15,638,165 6,275,419 196,273 67,619 179,298 6,219,456 28,576,230 Additions 14,784,027 — 162,310 — 62,000 504,067 15,512,404 Transfers from Assets under construction (1,528,606) 1,528,606 — — — — — At January 31, 2022 28,893,586 7,804,025 358,583 67,619 241,298 6,723,523 44,088,634 Accumulated depreciation At October 31, 2021 — (1,549,700) (8,645) (14,172) (49,314) (564,936) (2,186,767) Depreciation — (350,489) (25,036) (1,691) (11,149) (143,858) (532,223) At January 31, 2022 — (1,900,189) (33,681) (15,863) (60,463) (708,794) (2,718,990) Carrying amounts — At October 31, 2021 15,638,165 4,725,719 187,628 53,447 129,984 5,654,520 26,389,463 At January 31, 2022 28,893,586 5,903,836 324,902 51,756 180,835 6,014,729 41,369,644 |
Accounts receivable (Tables)
Accounts receivable (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Trade and other current receivables [abstract] | |
Schedule of other receivables | January 31, 2022 October 31, 2021 $ $ Trade Receivables 5,815,394 4,072,701 Total accounts receivable 5,815,394 4,072,701 Harmonized Sales Taxes receivable 710,824 379,814 Other — 593,331 Total other receivables 710,824 973,145 |
Prepayments and deposits (Table
Prepayments and deposits (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Prepayments And Deposits [Abstract] | |
Schedule of prepayments and deposits | January 31, 2022 October 31, 2021 $ $ Prepaid lease deposits 1,315,426 886,951 Prepaid equipment deposits 13,001,681 3,231,836 Prepaid insurance 2,337,920 3,839,880 Other prepaids 2,917,107 688,331 19,572,133 8,646,998 |
Inventory (Tables)
Inventory (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Inventories [Abstract] | |
Schedule of inventory | January 31, 2022 October 31, 2021 $ $ Raw material 1,722,222 850,416 Finished goods 1,158,825 347,391 2,881,047 1,197,807 |
Plant and equipment (Tables)
Plant and equipment (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of plant and equipment | Assets under construction Plant equipment Computer equipment Storage containers Vehicles Leasehold improvements Total $ $ $ $ $ $ $ Cost At October 31, 2021 15,638,165 6,275,419 196,273 67,619 179,298 6,219,456 28,576,230 Additions 14,784,027 — 162,310 — 62,000 504,067 15,512,404 Transfers from Assets under construction (1,528,606) 1,528,606 — — — — — At January 31, 2022 28,893,586 7,804,025 358,583 67,619 241,298 6,723,523 44,088,634 Accumulated depreciation At October 31, 2021 — (1,549,700) (8,645) (14,172) (49,314) (564,936) (2,186,767) Depreciation — (350,489) (25,036) (1,691) (11,149) (143,858) (532,223) At January 31, 2022 — (1,900,189) (33,681) (15,863) (60,463) (708,794) (2,718,990) Carrying amounts — At October 31, 2021 15,638,165 4,725,719 187,628 53,447 129,984 5,654,520 26,389,463 At January 31, 2022 28,893,586 5,903,836 324,902 51,756 180,835 6,014,729 41,369,644 |
Related party transactions (Tab
Related party transactions (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Summary of transactions between related parties | Related party transactions Remuneration of key management personnel The remuneration of the executive officers and directors, who are the key management personnel of the Company during the three months ended January 31, 2022, is set out below: January 31, 2022 January 31, 2021 $ $ Salaries 611,233 233,615 Share-based compensation 4,107,640 605,957 Fees and benefits 642,475 157,227 5,361,348 996,799 During the three months ended January 31, 2022, the Company paid directors and advisors for providing director services, consulting and fundraising activities. Total amounts paid to directors in respect of these activities in the period was $91,600 (2021: $49,366). Outstanding balances of remunerations of the executive officers and directors are summarized as follows: January 31, 2022 October 31, 2021 $ $ Accounts payable and accrued liabilities 1,256,087 771,255 Outstanding balances 1,256,087 771,255 Related-Party Lease From January 1, 2019 to December 31, 2021, the Company leased certain office space from Ashlin BPG Marketing, which is controlled by certain members of the immediate family of the Company’s President and Chief Executive Officer. Under the terms of the lease, the Company was required to pay Cdn. $4,500 per month plus applicable taxes, subject to 60 days’ notice of termination. Li-Cycle terminated the lease, effective December 31, 2021. During the three months ended January 31, 2022, the Company incurred expenses of $6,358 in relation to this vendor, compared to $6,198 for the three months ended January 31, 2021. Related-Party Expenses The Company has engaged Fade In Production Pty. Ltd., which is controlled by certain members of the immediate family of the Executive Chair of Li-Cycle, to provide it with corporate video production services since 2017. During the three months ended January 31, 2022, the Company incurred expenses of $2,100 in relation to this vendor, compared to $27,658 for the three months ended January 31, 2021. The Company has engaged Ashlin BPG Marketing, which is controlled by certain members of the immediate family of the Company's President and Chief Executive Officer, to provide it with marketing items and employee gifts since April 1, 2020. During the three months ended January 31, 2022, the Company incurred expenses of $33,779 attributable to this vendor, compared to $19,273 for the three months ended January 31, 2021. The Company has engaged Consulero Inc., which is controlled by certain members of the immediate family of the Company's President and Chief Executive Officer, to provide it with technology services since September 1, 2020. During the three months ended January 31, 2022, the Company incurred expenses of $22,104 attributable to this vendor, compared to $36,126 for the three months ended January 31, 2021. Consulting Agreements On May 1, 2020, Li-Cycle entered into a consulting agreement with Atria Limited (“Atria”), an entity which beneficially owned more than 5% of the outstanding Li-Cycle Corp. Shares at that time, to agree upon and finalize the consideration for certain business development and marketing consulting services that were previously performed on behalf of Li-Cycle from 2018 through April 2020. The fees for such services were agreed at 12,000 common shares of Li-Cycle Corp., payable in installments of 1,000 shares per month. On January 25, 2021, Li-Cycle issued all of the 12,000 shares to Atria as full and final satisfaction of all obligations of Li-Cycle to Atria under the consulting agreement. Atria also directed the issuance of such shares as follows: 8,000 Shares to Atria; 2,000 Shares to Pella Ventures (an affiliated company of Atria); and 2,000 Shares to a director of Li-Cycle Corp. at the time, who is not related to Atria . Director Consulting Agreements Under the terms of an agreement dated July 19, 2019 between Li-Cycle and Anthony Tse, Mr. Tse provided consulting services to Li-Cycle in relation to the proposed expansion of its operations in Asia and was entitled to a fee of $4,700 per month for such services. During the three months ended January 31, 2022, Mr. Tse was paid aggregate fees under this agreement of $14,100, compared to nil for the three months ended January 31, 2021. The consulting agreement was terminated on January 19, 2022. |
Convertible Debt (Tables)
Convertible Debt (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Financial Instruments [Abstract] | |
Summary of Convertible Debt | January 31, 2022 October 31, 2021 $ $ Principal of convertible note at beginning of period 100,000,000 — Issuance of convertible notes 1,827,778 100,000,000 Principal of convertible note at end of period 101,827,778 100,000,000 Conversion feature at beginning of period 29,028,938 — Conversion feature issued — 27,681,043 Fair value (gain) loss on embedded derivative (14,698,274) 1,347,895 Conversion feature at end of period 14,330,664 29,028,938 Debt component at beginning of period 71,848,900 — Debt component issued 1,827,778 72,318,957 Transaction costs — (1,599,737) Accrued interest paid in kind (1,827,778) — Amortization of transaction costs 81,650 26,662 Accrued interest expense 1,799,906 641,667 Accretion expense 1,384,052 461,351 Debt component at end of period 75,114,508 71,848,900 Total Convertible Debt at end of period 89,445,172 100,877,838 |
Summary of assumptions used in stock option pricing | The assumptions used in the model were as follows: September 29, 2021 October 31, 2021 January 31, 2022 Risk free interest rate 1.06% 1.23% 1.66% Expected life of options 5 years 4.92 years 4.67 years Expected dividend yield 0.0% 0.0% 0.0% Expected stock price volatility 66% 62% 68% Share Price 12.56 12.94 7.58 |
Share capital and share-based_2
Share capital and share-based compensation (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Summary of number and weighted average exercise prices of stock options | A summary of stock option activities is as follows: Number of Weighted average $ Balance – October 31, 2021 5,296,553 2.81 Granted 592,102 7.88 Balance – January 31, 2022 5,888,655 3.32 A summary of the outstanding stock options is as follows: Number of Exercise price $ Expiration dates September 11, 2022 399,100 0.02 April 10, 2023 798,200 0.02 April 10, 2023 199,231 0.36 April 1, 2024 171,613 0.36 July 17, 2024 865,244 0.36 December 16, 2029 99,775 1.08 April 21, 2030 439,010 1.08 July 19, 2030 371,163 1.08 November 30, 2030 420,452 2.17 February 11, 2031 478,920 2.17 August 10, 2031 1,053,846 10.93 November 22, 2031 31,725 13.20 January 31, 2032 560,377 7.58 5,888,655 |
Summary of assumptions used in stock option pricing | The assumptions used in the stock option pricing model for the grants during the three months ended January 31, 2022 were as follows: Risk free interest rate 1.44% - 1.69% Expected life of options 6 years Expected dividend yield 0.0% Expected stock price volatility 65% - 70% Expected forfeiture rate 0.0% |
Summary of restricted stock unit activity | A summary of RSU activities is as follows: Number of Weighted average Li-Cycle Holdings Corp RSUs share price on grant date Balance – October 31, 2021 716,763 $10.93 Granted 1,266,804 $8.79 Balance – January 31, 2022 1,983,567 $9.56 |
Financial instruments and fin_2
Financial instruments and financial risk factors (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Financial Instruments [Abstract] | |
Schedule of fair value measurement of assets | The Company’s financial assets measured at fair value on a recurring basis are measured under level 1 of the hierarchy and were calculated as follows: Balance Level 2 $ $ As at January 31, 2022 Accounts receivable 5,815,394 5,815,394 5,815,394 5,815,394 As at October 31, 2021 Accounts receivable 4,072,701 4,072,701 4,072,701 4,072,701 |
Schedule of fair value measurement of liabilities | The Company’s financial liabilities measured at fair value on a recurring basis are measured under level 1 and 2 of the hierarchy and were calculated as follows: Balance Level 1 Level 2 $ $ $ As at January 31, 2022 Conversion feature of convertible debt (see Note 10) 14,330,664 — 14,330,664 14,330,664 — 14,330,664 As at October 31, 2021 Conversion feature of convertible debt (see Note 10) 29,028,938 — 29,028,938 Warrants (see Note 11) 82,109,334 53,549,989 28,559,344 111,138,272 53,549,989 57,588,282 |
Right-of-use assets (Tables)
Right-of-use assets (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure Of Leases [Abstract] | |
Schedule of right-of-use assets | Premises Equipment Total Cost $ $ $ At October 31, 2021 28,821,956 133,769 28,955,725 Additions & modifications 2,144,896 59,939 2,204,835 At January 31, 2022 30,966,852 193,708 31,160,560 Accumulated depreciation At October 31, 2021 (1,894,179) (51,786) (1,945,965) Depreciation (1,293,297) (8,555) (1,301,852) Disposals 208,861 — 208,861 At January 31, 2022 (2,978,615) (60,341) (3,038,956) Carrying amounts At October 31, 2021 26,927,777 81,983 27,009,760 At January 31, 2022 27,988,237 133,367 28,121,604 |
Lease liabilities (Tables)
Lease liabilities (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure Of Leases [Abstract] | |
Lease liabilities | The Company has the following lease liabilities as of January 31, 2022. Maturity analysis Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Total Undiscounted $ $ $ $ $ $ $ Premises 6,168,522 5,120,905 4,212,169 3,942,280 3,857,699 15,288,184 38,589,759 Equipment 45,704 43,344 43,344 33,662 19,666 3,134 188,854 Total 6,214,226 5,164,249 4,255,513 3,975,942 3,877,365 15,291,318 38,778,613 Lease liabilities Current Non-Current Total Discounted $ $ $ Premises 4,557,725 25,876,441 30,434,166 Equipment 16,845 131,211 148,056 Total 4,574,570 26,007,652 30,582,222 The Company has the following lease liabilities as of October 31, 2021. Maturity analysis Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Total Undiscounted $ $ $ $ $ $ $ Premises 4,468,877 4,590,357 3,741,940 3,332,312 3,290,786 16,302,071 35,726,343 Equipment 48,898 44,044 44,044 42,384 21,022 7,835 208,227 Total 4,517,775 4,634,401 3,785,984 3,374,696 3,311,808 16,309,906 35,934,570 Lease liabilities Current Non-Current Total Discounted $ $ $ Premises 2,836,348 26,366,448 29,202,796 Equipment 32,447 129,626 162,073 Total 2,868,795 26,496,074 29,364,869 |
Loss per share (Tables)
Loss per share (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Earnings per share [abstract] | |
Summary of earnings per share | three months ended January 31, 2022 2021 Net profit (loss) $ 28,546,640 $ (6,845,323) Weighted average number of common shares 163,844,557 93,474,963 Effect of dilutive securities Stock options 3,927,811 — Restricted share units 929,982 — Convertible debt — — Warrants 2,182 — Effect of dilutive securities 4,859,975 — Dilutive number of shares 168,704,532 93,474,963 Basic earnings (loss) per share $ 0.17 $ (0.07) Diluted earnings (loss) per share $ 0.17 $ (0.07) January 31, January 31, 2022 2021 Stock options 1,645,948 5,786,950 Convertible debt 7,627,816 — 9,273,764 5,786,950 |
Segment reporting (Tables)
Segment reporting (Tables) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Schedule of geographical areas | The following is a summary of the Company’s geographical information: Canada United States Total $ $ $ Revenues Three months ended January 31, 2022 1,254,409 2,583,561 3,837,970 Three Months Ended January 31, 2021 950,206 67,034 1,017,240 Non-current assets Three months ended January 31, 2022 15,228,349 54,262,899 69,491,248 Year ended October 31, 2021 15,476,877 37,922,346 53,399,223 |
Nature of operations and busi_2
Nature of operations and business combination - Narrative (Details) | Aug. 10, 2021USD ($)$ / sharesshares | Jan. 31, 2022USD ($)shares | Oct. 31, 2021USD ($)shares | Jan. 31, 2021shares | Oct. 31, 2020shares |
Disclosure of classes of share capital [line items] | |||||
Business combination, share exchange ratio | 39.91 | ||||
Share capital | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares outstanding (in shares) | 168,891,877 | 163,179,655 | 95,060,429 | 83,361,291 | |
Li-Cycle Holdings Corp. | Common Class A | |||||
Disclosure of classes of share capital [line items] | |||||
Shares converted (in shares) | 96,084,679 | ||||
Li-Cycle Corp. | Common Class A | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares exchanged (in shares) | 2,407,535 | ||||
Peridot Acquisition Corp. | |||||
Disclosure of classes of share capital [line items] | |||||
Proceeds from public share issuance, net of share issue costs | $ | $ 525,329,273 | ||||
Fair market value of warrants (in dollars per share) | $ / shares | $ 2.1 | ||||
Warrant liability | $ | $ 48,299,987 | $ 0 | $ 82,109,334 | ||
Li-Cycle Inc. | |||||
Disclosure of classes of share capital [line items] | |||||
Proportion of ownership interest in subsidiary | 100.00% | ||||
Li-Cycle North America Hub, Inc. | |||||
Disclosure of classes of share capital [line items] | |||||
Proportion of ownership interest in subsidiary | 100.00% | ||||
Li-Cycle Corp. | |||||
Disclosure of classes of share capital [line items] | |||||
Proportion of ownership interest in subsidiary | 100.00% |
Significant accounting polici_4
Significant accounting policies - Summary of Subsidiary Ownership (Details) | 3 Months Ended |
Jan. 31, 2022 | |
Li-Cycle U.S. Holdings Inc. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle Inc. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle North America Hub, Inc. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle Americas Corp. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle Corp. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle Europe AG | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Li-Cycle APAC PTE. LTD. | |
Disclosure of subsidiaries [line items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Significant accounting polici_5
Significant accounting policies - Summary of Office, Administrative, and Travel Expense (Details) - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
List Of Accounting Policies [Abstract] | ||
Research and development | $ 2,844,540 | $ 304,241 |
Accounts receivable (Details)
Accounts receivable (Details) - USD ($) | 3 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Oct. 31, 2021 | |
Disclosure of provision matrix [line items] | |||
Accounts receivable | $ 5,815,394 | $ 4,072,701 | |
Gains (losses) arising from changes in estimates | 1,738,469 | $ 275,503 | |
Allowance account for credit loss | 0 | $ 0 | |
Harmonized Sales Taxes receivable | 710,824 | 379,814 | |
Other | 0 | 593,331 | |
Other receivables | $ 710,824 | $ 973,145 |
Prepayments and deposits (Detai
Prepayments and deposits (Details) - USD ($) | Jan. 31, 2022 | Oct. 31, 2021 |
Prepayments And Deposits [Abstract] | ||
Prepaid lease deposits | $ 1,315,426 | $ 886,951 |
Prepaid equipment deposits | 13,001,681 | 3,231,836 |
Prepaid insurance | 2,337,920 | 3,839,880 |
Other prepaids | 2,917,107 | 688,331 |
Prepayments and deposits | $ 19,572,133 | $ 8,646,998 |
Inventory (Details)
Inventory (Details) - USD ($) | 3 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Oct. 31, 2021 | |
Inventories [Abstract] | |||
Raw material | $ 1,722,222 | $ 850,416 | |
Finished goods | 1,158,825 | 347,391 | |
Inventory | 2,881,047 | $ 1,197,807 | |
Cost of inventories recognised as expense | 2,446,381 | $ 1,181,572 | |
Write-down of finished goods | 375,022 | 367,422 | |
Write-down of raw materials | $ 285,495 | $ 53,757 |
Plant and equipment (Details)
Plant and equipment (Details) | 3 Months Ended |
Jan. 31, 2022USD ($) | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | $ 26,389,463 |
Property, plant and equipment at end of period | 41,369,644 |
Plant equipment | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 4,725,719 |
Property, plant and equipment at end of period | 5,903,836 |
Storage containers | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 53,447 |
Property, plant and equipment at end of period | 51,756 |
Vehicles | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 129,984 |
Property, plant and equipment at end of period | 180,835 |
Leasehold improvements | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 5,654,520 |
Property, plant and equipment at end of period | 6,014,729 |
Construction in progress | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 15,638,165 |
Property, plant and equipment at end of period | 28,893,586 |
Computer equipment [member] | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 187,628 |
Property, plant and equipment at end of period | 324,902 |
Cost | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 28,576,230 |
Additions | 15,512,404 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 0 |
Property, plant and equipment at end of period | 44,088,634 |
Cost | Plant equipment | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 6,275,419 |
Additions | 0 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 1,528,606 |
Property, plant and equipment at end of period | 7,804,025 |
Cost | Storage containers | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 67,619 |
Additions | 0 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 0 |
Property, plant and equipment at end of period | 67,619 |
Cost | Vehicles | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 179,298 |
Additions | 62,000 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 0 |
Property, plant and equipment at end of period | 241,298 |
Cost | Leasehold improvements | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 6,219,456 |
Additions | 504,067 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 0 |
Property, plant and equipment at end of period | 6,723,523 |
Cost | Construction in progress | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 15,638,165 |
Additions | 14,784,027 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | (1,528,606) |
Property, plant and equipment at end of period | 28,893,586 |
Cost | Computer equipment [member] | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 196,273 |
Additions | 162,310 |
Increase (decrease) through transfers from construction in progress, property, plant and equipment | 0 |
Property, plant and equipment at end of period | 358,583 |
Accumulated depreciation | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (2,186,767) |
Depreciation | (532,223) |
Property, plant and equipment at end of period | (2,718,990) |
Accumulated depreciation | Plant equipment | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (1,549,700) |
Depreciation | (350,489) |
Property, plant and equipment at end of period | (1,900,189) |
Accumulated depreciation | Storage containers | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (14,172) |
Depreciation | (1,691) |
Property, plant and equipment at end of period | (15,863) |
Accumulated depreciation | Vehicles | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (49,314) |
Depreciation | (11,149) |
Property, plant and equipment at end of period | (60,463) |
Accumulated depreciation | Leasehold improvements | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (564,936) |
Depreciation | (143,858) |
Property, plant and equipment at end of period | (708,794) |
Accumulated depreciation | Construction in progress | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | 0 |
Depreciation | 0 |
Property, plant and equipment at end of period | 0 |
Accumulated depreciation | Computer equipment [member] | |
Reconciliation of changes in property, plant and equipment [abstract] | |
Property, plant and equipment at beginning of period | (8,645) |
Depreciation | (25,036) |
Property, plant and equipment at end of period | $ (33,681) |
Related party transactions - Su
Related party transactions - Summary of Remuneration of Directors (Details) - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | ||
Key management personnel compensation, short-term employee benefits | $ 611,233 | $ 233,615 |
Key management personnel compensation, share-based payment | 4,107,640 | 605,957 |
Key Management Personnel Compensation, Fees And Benefits | 642,475 | 157,227 |
Key management personnel compensation | $ 5,361,348 | $ 996,799 |
Related party transactions - Na
Related party transactions - Narrative (Details) | May 01, 2021shares | Jul. 19, 2019USD ($) | Jan. 31, 2022USD ($) | Jan. 31, 2021USD ($) | Jan. 25, 2021shares | Jan. 01, 2019CAD ($) |
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation, directors fees | $ 91,600 | $ 49,366 | ||||
Marketing | 448,945 | 141,655 | ||||
Office, administrative and travel | 2,844,540 | 304,241 | ||||
Professional fees | 2,874,039 | 2,434,134 | ||||
Repayment of loans payable | 1,535 | 300,993 | ||||
Immediate Family Member Of Chief Executive Officer | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Monthly lease payment to related party | $ 4,500 | |||||
Rental expense | 6,358 | 6,198 | ||||
Marketing | 33,779 | 19,273 | ||||
Office, administrative and travel | 22,104 | 36,126 | ||||
Immediate Family Member Of Chief Executive Chairman | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Marketing | 2,100 | 27,658 | ||||
Beneficial Owner | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Fees payable to related party, (in shares) | shares | 1,000 | |||||
Fees payable to related party, maximum (in shares) | shares | 12,000 | |||||
Number of shares issued in settlement of liabilities to related party (in shares) | shares | 12,000 | |||||
Beneficial Owner | Atria Limited | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Number of shares issued in settlement of liabilities to related party (in shares) | shares | 8,000 | |||||
Beneficial Owner | Pella Ventures | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Number of shares issued in settlement of liabilities to related party (in shares) | shares | 2,000 | |||||
Beneficial Owner | Director Of Li-Cycle | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Number of shares issued in settlement of liabilities to related party (in shares) | shares | 2,000 | |||||
Beneficial Owner | Atria Limited | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Proportion of ownership interest in entity by related party | 500.00% | |||||
Director | Anthony Tse | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Professional fees, monthly payment | $ 4,700 | |||||
Professional fees | $ 14,100 | $ 0 |
Related party transactions - Ou
Related party transactions - Outstanding Balances Of Remunerations Of Directors (Details) - USD ($) | Oct. 31, 2022 | Oct. 31, 2021 |
Disclosure of transactions between related parties [line items] | ||
Amounts payable, related party transactions | $ 1,256,087 | $ 771,255 |
Accounts Payable And Accrued Liabilities | ||
Disclosure of transactions between related parties [line items] | ||
Amounts payable, related party transactions | $ 1,256,087 | $ 771,255 |
Convertible Debt - Summary of C
Convertible Debt - Summary of Convertible Debt (Details) - USD ($) | Sep. 29, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Oct. 31, 2022 | Dec. 31, 2021 | Oct. 31, 2021 | Oct. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | |||||||
Foreign exchange (gain) loss | $ (11,453) | $ 391,964 | |||||
Convertible debt | 89,445,172 | $ 100,877,838 | |||||
Convertible debt | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuance of convertible notes | $ 100,000,000 | $ 1,827,778 | 100,000,000 | $ 0 | |||
Borrowing costs recognised as expense | (1,599,737) | ||||||
Principal of convertible note at end of period | 101,827,778 | 100,000,000 | |||||
Conversion feature issued | 14,330,664 | 29,028,938 | 0 | ||||
Issue of convertible instruments | 27,681,043 | 0 | |||||
Fair value (gain) loss on embedded derivative | (14,698,274) | 1,347,895 | |||||
Debt component issued | $ 72,318,957 | 75,114,508 | 1,827,778 | 71,848,900 | $ 0 | ||
Transaction costs | 0 | (1,599,737) | |||||
Accrued interest paid in kind | $ (1,827,778) | 0 | |||||
Amortization of transaction costs | 81,650 | 26,662 | |||||
Accrued interest expense | $ 1,799,906 | 641,667 | |||||
Accretion expense | 1,384,052 | $ 461,351 | |||||
Convertible debt | $ 89,445,172 | $ 100,877,838 |
Convertible Debt - Narrative (D
Convertible Debt - Narrative (Details) - Koch Strategic Platforms Convertible Note | Sep. 29, 2021USD ($)$ / shares |
Disclosure of detailed information about borrowings [line items] | |
Issuance of convertible notes | $ 100,000,000 |
Borrowings, conversion price (in dollars per share) | $ / shares | $ 13.43 |
Percentage of 7-day-volume weighted average price of common shares used to determine conversion price | 125.00% |
Borrowings, conversion price triggering conversion feature (in dollars per share) | $ / shares | $ 17.46 |
Embedded Derivative | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings | $ 27,681,043 |
Debt Principal | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings | $ 72,318,957 |
LIBOR | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, adjustment to interest rate basis | 5.00% |
Adjustment to paid in kind interest rate | 6.00% |
LIBOR | Minimum | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, variable rate, fixed | 1.00% |
LIBOR | Maximum | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings, variable rate, fixed | 2.00% |
Convertible Debt - Assumptions
Convertible Debt - Assumptions (Details) - Koch Strategic Platforms Convertible Note | Oct. 31, 2022$ / sharesyr | Jan. 31, 2022$ / sharesyr | Sep. 29, 2021$ / sharesyr |
Risk free interest rate | |||
Disclosure of detailed information about borrowings [line items] | |||
Significant unobservable input, liabilities | 1.23 | 1.66 | 1.06 |
Expected life of options | |||
Disclosure of detailed information about borrowings [line items] | |||
Significant unobservable input, liabilities | yr | 4.92 | 4.67 | 5 |
Expected dividend yield | |||
Disclosure of detailed information about borrowings [line items] | |||
Significant unobservable input, liabilities | 0 | 0 | 0 |
Expected stock price volatility | |||
Disclosure of detailed information about borrowings [line items] | |||
Significant unobservable input, liabilities | 0.62 | 0.68 | 0.66 |
Share Price | |||
Disclosure of detailed information about borrowings [line items] | |||
Significant unobservable input, liabilities | $ / shares | 12.94 | 7.58 | 12.56 |
Warrants (Details)
Warrants (Details) | Jan. 31, 2022USD ($)dshares | Jan. 30, 2022$ / sharesshares | Oct. 31, 2021USD ($)shares | Oct. 15, 2021shares | Aug. 10, 2021USD ($)$ / sharesshares | Jan. 28, 2022shares | Jan. 31, 2022USD ($)dshares | Dec. 27, 2021$ / shares |
Disclosure of classes of share capital [line items] | ||||||||
Warrants, term | 5 years | 5 years | ||||||
Exercise price of warrants (in dollars per share) | $ 11.5 | |||||||
Redemption price of warrants (in dollars per share) | $ 0.1 | $ 0.1 | ||||||
Number of warrants exercised (in shares) | shares | 9,678 | 2,082 | 7,596 | 9,578 | ||||
Proceeds from exercise of warrants | $ | $ 22,370 | |||||||
Cashless exercises | $ | $ 45,868,707 | |||||||
Exercise of warrants (in shares) | shares | 2,082 | 7,596 | (22,540,651) | |||||
Cashless exercises (in shares) | shares | 22,540,651 | |||||||
Redemptions | $ | $ 44,967 | |||||||
Redemptions (in shares) | shares | 449,665 | |||||||
Warrants | $ | $ 0 | $ 82,109,334 | $ 0 | |||||
Fair value adjustment of warrants | $ | $ 36,173,291 | |||||||
Shares issued per warrant | 0.253 | |||||||
Number of warrants unexercised (in shares) | shares | 449,665 | |||||||
Public Warrant | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Exercise price of warrants (in dollars per share) | $ 11.5 | |||||||
Redemption price of warrants (in dollars per share) | 0.01 | |||||||
Warrants outstanding, threshold trading days | d | 20 | 20 | ||||||
Warrants outstanding, threshold consecutive trading days | d | 30 | 30 | ||||||
Redemption price of warrants after maximum stock price trigger (in dollars per share) | 0.1 | |||||||
Public Warrant | Minimum | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Warrants, stock price trigger (in dollars per share) | 10 | |||||||
Public Warrant | Maximum | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Warrants, stock price trigger (in dollars per share) | 18 | |||||||
Private Warrant | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Exercise price of warrants (in dollars per share) | 11.5 | |||||||
Private Warrant | Minimum | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Warrants, stock price trigger (in dollars per share) | 10 | |||||||
Private Warrant | Maximum | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Warrants, stock price trigger (in dollars per share) | $ 18 | |||||||
Peridot Acquisition Corp. | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of warrants assumed in acquisition (in shares) | shares | 0 | 22,999,894 | 23,000,000 | |||||
Fair market value of warrants (in dollars per share) | $ 2.1 | |||||||
Warrant liability | $ | $ 0 | $ 82,109,334 | $ 48,299,987 | $ 0 | ||||
Peridot Acquisition Corp. | Public Warrant | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of warrants assumed in acquisition (in shares) | shares | 15,000,000 | |||||||
Peridot Acquisition Corp. | Private Warrant | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Number of warrants assumed in acquisition (in shares) | shares | 8,000,000 |
Share capital and share-based_3
Share capital and share-based compensation - Narrative (Details) | Jan. 30, 2022shares | Oct. 15, 2021USD ($)shares | Aug. 10, 2021USD ($)shares | Jun. 24, 2021USD ($)employeeshares | Nov. 13, 2020USD ($)$ / sharesshares | Jan. 28, 2022USD ($)shares | Jan. 31, 2022USD ($)shares | Jan. 31, 2021USD ($) | Oct. 31, 2021shares | Jan. 25, 2021shares |
Disclosure of classes of share capital [line items] | ||||||||||
Number of shares issued (in shares) | 12,000 | |||||||||
Number of employees who exercised shares in period | employee | 4 | |||||||||
Number of share options exercised (in shares) | 25,664 | |||||||||
Exercise of stock options | $ | $ 169,105 | |||||||||
Business combination, share exchange ratio | 39.91 | |||||||||
Number of warrants exercised (in shares) | 9,678 | 2,082 | 7,596 | 9,578 | ||||||
Exercise of warrants (in shares) | 2,082 | 7,596 | (22,540,651) | |||||||
Proceeds from exercise of warrants | $ | $ 23,943 | $ 87,354 | $ 65,180 | $ 0 | ||||||
Number of share options exercisable (in shares) | 4,553,635 | 4,242,707 | ||||||||
Fair value of stock options granted | $ | $ 2,911,807 | 934,890 | ||||||||
Share-based compensation | $ | 5,198,809 | 746,171 | ||||||||
Li-Cycle Corp. | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of share options exercised (in shares) | 28,779 | |||||||||
Li-Cycle Corp. | Common Class A | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of shares exchanged (in shares) | 2,407,535 | |||||||||
Li-Cycle Holdings Corp. | Common Class A | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Shares converted (in shares) | 96,084,679 | |||||||||
Peridot Acquisition Corp. | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Proceeds from public share issuance, net of share issue costs | $ | $ 525,329,273 | |||||||||
Number of share options assumed In business combination (in shares) | 65,671,374 | |||||||||
Exercise of stock options (in shares) | 1,031,226 | |||||||||
Restricted share units | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Share-based compensation | $ | $ (2,321,118) | 604,943 | ||||||||
Restricted share units | Li-Cycle Corp. | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of shares exchanged (in shares) | 9,829 | |||||||||
Restricted share units | Maximum | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Vesting period | 3 years | |||||||||
Restricted share units | Peridot Acquisition Corp. | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of other equity instruments exercised (in shares) | 392,276 | |||||||||
LTIP | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Expiration period, share based payment arrangements | 10 years | |||||||||
Vesting period | 3 years | |||||||||
Stock options | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Share-based compensation | $ | $ 2,877,691 | $ 141,228 | ||||||||
Private Placement | Preference shares | ||||||||||
Disclosure of classes of share capital [line items] | ||||||||||
Number of shares issued (in shares) | 281,138 | |||||||||
Proceeds from public share issuance, net of share issue costs | $ | $ 23,000,000 | |||||||||
Sale of stock, price per share (in dollars per share) | $ / shares | $ 81.81 | |||||||||
Share issue related cost | $ | $ 1,380,000 |
Share capital and share-based_4
Share capital and share-based compensation - Summary of Stock Option Activity (Details) | Aug. 10, 2021shares | Jun. 24, 2021shares | Jan. 31, 2022shares$ / shares |
Disclosure of classes of share capital [line items] | |||
Number of stock options, beginning balance (in shares) | 5,296,553 | ||
Granted (in shares) | 592,102 | ||
Exercised (in shares) | (25,664) | ||
Number of stock options, ending balance (in shares) | 5,888,655 | ||
Weighted average exercise price per stock option, beginning of period (in dollars per share) | $ / shares | $ 2.81 | ||
Granted (in dollars per share) | $ / shares | 7.88 | ||
Weighted average exercise price per stock option, end of period (in dollars per share) | $ / shares | $ 3.32 | ||
Li-Cycle Corp. | |||
Disclosure of classes of share capital [line items] | |||
Exercised (in shares) | (28,779) |
Share capital and share-based_5
Share capital and share-based compensation - Schedule of Stock Option Expirations (Details) | Jan. 31, 2022shares$ / shares | Oct. 31, 2021shares |
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 5,888,655 | 5,296,553 |
September 11, 2022 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 399,100 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 0.02 | |
April 10, 2023 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 798,200 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 0.02 | |
April 10, 2023 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 199,231 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 0.36 | |
April 1, 2024 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 171,613 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 0.36 | |
July 17, 2024 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 865,244 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 0.36 | |
December 16, 2029 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 99,775 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 1.08 | |
April 21, 2030 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 439,010 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 1.08 | |
July 19, 2030 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 371,163 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 1.08 | |
November 30, 2030 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 420,452 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 2.17 | |
February 11, 2031 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 478,920 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 2.17 | |
August 10, 2031 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 1,053,846 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 10.93 | |
November 22, 2031 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 31,725 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 13.20 | |
January 31, 2032 | ||
Disclosure of classes of share capital [line items] | ||
Number of stock options (in shares) | 560,377 | |
Exercise price of outstanding stock options (in shares) | $ / shares | $ 7.58 |
Share capital and share-based_6
Share capital and share-based compensation - Schedule of Assumptions (Details) | 3 Months Ended |
Jan. 31, 2022yr | |
Disclosure of classes of share capital [line items] | |
Expected life of options | 6 |
Expected dividend yield | 0.00% |
Expected forfeiture rate | 0.00% |
Minimum | |
Disclosure of classes of share capital [line items] | |
Risk free interest rate | 1.44% |
Expected stock price volatility | 65.00% |
Maximum | |
Disclosure of classes of share capital [line items] | |
Risk free interest rate | 1.69% |
Expected stock price volatility | 70.00% |
Share capital and share-based_7
Share capital and share-based compensation - Summary of RSU Activities (Details) - Restricted share units | Jan. 31, 2022shares$ / shares | Oct. 31, 2021$ / shares | Jan. 31, 2022shares$ / shares | Oct. 31, 2022shares |
Disclosure of classes of share capital [line items] | ||||
Number of other equity instruments outstanding in share-based payment arrangement | 1,983,567 | 1,983,567 | 716,763 | |
Granted (in shares) | 1,266,804 | |||
Exercise price of outstanding stock options (in shares) | $ / shares | $ 9.56 | $ 10.93 | $ 8.79 | |
Ending balance (in shares) | 1,983,567 | 1,983,567 |
Financial instruments and fin_3
Financial instruments and financial risk factors - Assets Measured at Fair Value (Details) - Recurring fair value measurement - USD ($) | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 5,815,394 | $ 4,072,701 |
Accounts receivable | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 5,815,394 | 4,072,701 |
Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 5,815,394 | 4,072,701 |
Level 2 | Accounts receivable | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 5,815,394 | $ 4,072,701 |
Financial instruments and fin_4
Financial instruments and financial risk factors - Liabilities Measured at Fair Value (Details) - Recurring fair value measurement - USD ($) | Oct. 31, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | $ 14,330,664 | $ 111,138,272 | |
Convertible debt | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | $ 29,028,938 | 14,330,664 | |
Warrants | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 82,109,334 | ||
Quoted prices in active markets for identical assets (Level 1) | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 0 | 53,549,989 | |
Quoted prices in active markets for identical assets (Level 1) | Convertible debt | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 0 | 0 | |
Quoted prices in active markets for identical assets (Level 1) | Warrants | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 53,549,989 | ||
Level 2 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 14,330,664 | $ 57,588,282 | |
Level 2 | Convertible debt | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 29,028,938 | $ 14,330,664 | |
Level 2 | Warrants | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | $ 28,559,344 |
Financial instruments and fin_5
Financial instruments and financial risk factors - Narrative (Details) - 3 months ended Jan. 31, 2022 | USD ($) | CAD ($) |
Disclosure of detailed information about financial instruments [line items] | ||
Cash | $ 3,163,333 | |
Liabilities, net | $ 25,289,808 | |
Currency risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on foreign exchange gain (loss) | $ (868,379) | |
Currency risk | Currency in which supplementary information is displayed | ||
Disclosure of detailed information about financial instruments [line items] | ||
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent | 5.00% |
Right-of-use assets (Details)
Right-of-use assets (Details) | 3 Months Ended |
Jan. 31, 2022USD ($) | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | $ 27,009,760 |
Right-of-use assets, ending balance | $ 28,121,604 |
Lease term | 5 years |
Cost | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | $ 28,955,725 |
Additions & modifications | 2,204,835 |
Right-of-use assets, ending balance | 31,160,560 |
Accumulated depreciation | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | (1,945,965) |
Depreciation | (1,301,852) |
Disposals | 208,861 |
Right-of-use assets, ending balance | (3,038,956) |
Premises | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | 26,927,777 |
Right-of-use assets, ending balance | 27,988,237 |
Premises | Cost | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | 28,821,956 |
Additions & modifications | 2,144,896 |
Right-of-use assets, ending balance | 30,966,852 |
Premises | Accumulated depreciation | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | (1,894,179) |
Depreciation | (1,293,297) |
Disposals | 208,861 |
Right-of-use assets, ending balance | (2,978,615) |
Equipment | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | 81,983 |
Right-of-use assets, ending balance | 133,367 |
Equipment | Cost | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | 133,769 |
Additions & modifications | 59,939 |
Right-of-use assets, ending balance | 193,708 |
Equipment | Accumulated depreciation | |
Reconciliation Of Changes In Right-Of-Use Assets | |
Right-of-use assets, beginning balance | (51,786) |
Depreciation | (8,555) |
Disposals | 0 |
Right-of-use assets, ending balance | $ (60,341) |
Lease liabilities (Details)
Lease liabilities (Details) | 3 Months Ended | |
Jan. 31, 2022USD ($)lease | Oct. 31, 2021USD ($) | |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | $ 38,778,613 | $ 35,934,570 |
Current | 4,574,570 | 2,868,795 |
Non-Current | 26,007,652 | 26,496,074 |
Total | 30,582,222 | 29,364,869 |
Interest expense on lease liabilities | $ 438,527 | |
Number of modified leases | lease | 1 | |
Year 1 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | $ 6,214,226 | 4,517,775 |
Year 2 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 5,164,249 | 4,634,401 |
Year 3 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 4,255,513 | 3,785,984 |
Year 4 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 3,975,942 | 3,374,696 |
Year 5 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 3,877,365 | 3,311,808 |
Thereafter | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 15,291,318 | 16,309,906 |
Premises | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 38,589,759 | 35,726,343 |
Current | 4,557,725 | 2,836,348 |
Non-Current | 25,876,441 | 26,366,448 |
Total | $ 30,434,166 | 29,202,796 |
Number of leases | lease | 1 | |
Premises | Year 1 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | $ 6,168,522 | 4,468,877 |
Premises | Year 2 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 5,120,905 | 4,590,357 |
Premises | Year 3 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 4,212,169 | 3,741,940 |
Premises | Year 4 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 3,942,280 | 3,332,312 |
Premises | Year 5 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 3,857,699 | 3,290,786 |
Premises | Thereafter | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 15,288,184 | 16,302,071 |
Equipment | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 188,854 | 208,227 |
Current | 16,845 | 32,447 |
Non-Current | 131,211 | 129,626 |
Total | 148,056 | 162,073 |
Equipment | Year 1 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 45,704 | 48,898 |
Equipment | Year 2 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 43,344 | 44,044 |
Equipment | Year 3 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 43,344 | 44,044 |
Equipment | Year 4 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 33,662 | 42,384 |
Equipment | Year 5 | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | 19,666 | 21,022 |
Equipment | Thereafter | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted lease liabilities | $ 3,134 | $ 7,835 |
Commitments (Details)
Commitments (Details) - USD ($) | Oct. 31, 2021 | Jan. 31, 2022 |
Commitments [Abstract] | ||
Purchase orders | $ 6,858,617 | $ 124,483,550 |
Loss per share - Calculation of
Loss per share - Calculation of Loss per Share (Details) | 3 Months Ended | ||
Jan. 31, 2022USD ($)$ / sharesshares | Jan. 31, 2021USD ($)$ / sharesshares | Aug. 10, 2021 | |
Earnings per share [line items] | |||
Business combination, share exchange ratio | 39.91 | ||
Net profit (loss) | $ | $ 28,546,640 | $ (6,845,323) | |
Weighted average number of ordinary shares, basic (in shares) | 163,844,557 | 93,474,963 | |
Stock options (in shares) | 3,927,811 | 0 | |
Restricted share units (in shares) | 929,982 | 0 | |
Effect of dilutive securities (in shares) | 4,859,975 | 0 | |
Weighted average number of ordinary shares, diluted (in shares) | 168,704,532 | 93,474,963 | |
Basic loss per share (in dollars per share) | $ / shares | $ 0.17 | $ (0.07) | |
Diluted loss per share (in dollars per share) | $ / shares | $ 0.17 | $ (0.07) | |
Anti-dilutive shares (in shares) | 9,273,764 | 5,786,950 | |
Convertible debt | |||
Earnings per share [line items] | |||
Convertible debt (in shares) | 0 | 0 | |
Anti-dilutive shares (in shares) | 7,627,816 | 0 | |
Warrants | |||
Earnings per share [line items] | |||
Convertible debt (in shares) | 2,182 | 0 |
Loss per share - Schedule of An
Loss per share - Schedule of Anti-dilutive Shares (Details) - shares | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Earnings per share [line items] | ||
Anti-dilutive shares (in shares) | 9,273,764 | 5,786,950 |
Stock options | ||
Earnings per share [line items] | ||
Anti-dilutive shares (in shares) | 1,645,948 | 5,786,950 |
Convertible debt | ||
Earnings per share [line items] | ||
Anti-dilutive shares (in shares) | 7,627,816 | 0 |
Segment reporting (Details)
Segment reporting (Details) | Jan. 31, 2022USD ($) | Jan. 31, 2021 | Jan. 31, 2022USD ($)segment | Jan. 31, 2021USD ($) | Oct. 31, 2021USD ($) |
Disclosure of geographical areas [line items] | |||||
Number of operating segments | segment | 1 | ||||
Three months ended January 31, 2022 | $ 3,837,970 | $ 1,017,240 | |||
Non-current assets | $ 69,491,248 | $ 69,491,248 | $ 53,399,223 | ||
Customer B | |||||
Disclosure of geographical areas [line items] | |||||
Main customers as a percentage of revenue | 61.00% | 52.00% | |||
Main customers as a percentage of accounts receivable | 54.00% | 45.00% | |||
Customer A | |||||
Disclosure of geographical areas [line items] | |||||
Main customers as a percentage of revenue | 29.00% | 42.00% | |||
Main customers as a percentage of accounts receivable | 42.00% | 53.00% | |||
Canada | |||||
Disclosure of geographical areas [line items] | |||||
Three months ended January 31, 2022 | $ 1,254,409 | $ 950,206 | |||
Non-current assets | $ 15,228,349 | 15,228,349 | 15,476,877 | ||
United States | |||||
Disclosure of geographical areas [line items] | |||||
Three months ended January 31, 2022 | 2,583,561 | $ 67,034 | |||
Non-current assets | $ 54,262,899 | $ 54,262,899 | $ 37,922,346 |
Government funding (Details)
Government funding (Details) - USD ($) | 3 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Government Grants [Abstract] | ||
Office, administrative and travel | $ 341,786 | $ 527,195 |
Subsequent events (Details)
Subsequent events (Details) | Jan. 30, 2022$ / sharesshares | Oct. 15, 2021shares | Jan. 28, 2022shares | Jan. 31, 2022shares | Dec. 27, 2021$ / shares | Dec. 13, 2021USD ($)shares | Sep. 29, 2021USD ($) |
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Common stock, share subscriptions receivable | $ | $ 50,000,000 | ||||||
Common stock, shares subscribed (in shares) | 4,416,960 | ||||||
Redemption price of warrants (in dollars per share) | $ / shares | $ 0.1 | $ 0.1 | |||||
Shares issued per warrant | 0.253 | ||||||
Number of warrants exercised (in shares) | 9,678 | 2,082 | 7,596 | 9,578 | |||
Exercise price of warrants (in dollars per share) | $ / shares | $ 11.5 | ||||||
Number of warrants unexercised (in shares) | 449,665 | ||||||
Koch Strategic Platforms Convertible Note | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Issuance of convertible notes | $ | $ 100,000,000 | ||||||
LG Chem, Ltd. | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Common stock, share subscriptions receivable | $ | $ 25,000,000 | ||||||
Common stock, shares subscribed (in shares) | 2,208,480 | ||||||
LG Energy Solution, Ltd. | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Common stock, share subscriptions receivable | $ | $ 25,000,000 | ||||||
Common stock, shares subscribed (in shares) | 2,208,480 |