Kensington Capital SPAC to merge with Nth Cycle in de-SPAC deal; target Q4 2026 close

Kensington Capital Acquisition Corp. VI

Kensington Capital Acquisition Corp. VI (KCAC) enters Business Combination Agreement with Nth Cycle, Inc., a battery recycling company.
Merger consideration includes up to 20M earnout shares: 10M at $15.00 stock price for 20/30 days, 10M upon mechanical completion of first major black mass refinery.
Closing requires at least $75M cash from trust and PIPE; expected in Q4 2026 subject to shareholder approvals and regulatory conditions.
Post-closing, combined company to be named Nth Cycle Holdings, Inc., trading on NYSE under symbol NTH.
Sponsor agrees to vote in favor, waive anti-dilution rights, and lock up shares until closing.

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