DealsJun 1, 2026, 01:09 PM
Hall Chadwick Acquisition Corp. to Merge with REEcycle Holdings, Inc.
AI Summary
Hall Chadwick Acquisition Corp. (HCAC) announced a definitive business combination agreement with REEcycle Holdings, Inc., a U.S.-based rare earth element recycling company. The transaction values REEcycle at approximately US$400 million and aims to create the first publicly listed U.S. rare earth recycling company, addressing national security concerns regarding China's dominance in the supply chain. REEcycle's technology recovers rare earths from end-of-life magnets, and the combined company is expected to have a minimum of US$40 million in cash at closing. The deal is subject to shareholder approval and regulatory filings.
Key Highlights
- Hall Chadwick Acquisition Corp. (HCAC) to merge with REEcycle Holdings, Inc., a U.S. rare earth element recycling company.
- Transaction values REEcycle at approximately US$400 million in equity consideration, including up to US$50 million in contingent consideration.
- The combined company, to be named REEcycle Inc., will be the first publicly listed U.S. rare earth recycling company.
- HCAC currently holds approximately US$207 million in trust, expected to provide a minimum of US$40 million in cash at closing.
- The transaction is a response to the U.S. national security imperative to establish a domestic, China-independent supply chain for rare earth elements.
- REEcycle's technology recovers rare earths from end-of-life permanent magnets, addressing a critical U.S. supply gap.
- Mick McMullen, Executive Chairman of REEcycle, has extensive experience in global mining and capital markets.
- The transaction is subject to HCAC shareholder approval and effectiveness of a registration statement on Form S-4.
Price Impact
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