M&A
confidence high
sentiment positive
materiality 0.85
HCAC SPAC merges with REEcycle in $400M deal to create first US-listed rare earth recycler
Hall Chadwick Acquisition Corp
- Total equity consideration of $400M including up to $50M contingent on 50 metric tonnes/yr mixed rare earth oxide run rate.
- HCAC holds ~$207M in trust; combined company expects min $40M unrestricted cash at closing.
- Boards of both companies unanimously approved; closing subject to HCAC shareholder vote and SEC Form S-4 effectiveness.
- Combined company to list on Nasdaq as REEcycle Inc., targeting domestic rare earth supply chain independence from China.
- Prior to closing, HCAC will domesticate from Cayman Islands to Delaware corporation.