secwatch.observer — SEC 8-K summary
======================================

Issuer:     Kensington Capital Acquisition Corp. VI (KCAC-UN)
CIK:        0002102713
Form:       8-K
Filed at:   2026-07-22T12:44:51+00:00
Accession:  0001193125-26-311388
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2102713/000119312526311388/0001193125-26-311388-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2102713/000119312526311388/d140185d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-311388

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer