Peridot Acquisition Corp. (PDAC) to Combine with Li-Cycle in $1Bn Deal

Peridot (NYSE:PDAC) has entered a definitive agreement to combine with battery recycler Li-Cycle Corp. for an enterprise value of $1.09 billion, or 10.1x its 2023E revenue. Toronto-based Li-Cycle recycles spent lithium batteries and resells their constituent elements to off-takers in a broad number of industries. The combined entity is expected to trade on the NYSE
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