Hall Chadwick Acquisition to merge with rare earth recycler REEcycle in $400M deal
On May 31, 2026, Hall Chadwick Acquisition Corp (HCAC) signed a Business Combination Agreement with REEcycle Holdings, Inc., a rare earth elements recycling company. HCAC will transfer its domicile to Delaware and merge with a subsidiary, with REEcycle continuing as the surviving company, and the purchase price is $400 million paid in HCAC stock. Completion depends on shareholder approvals, SEC effectiveness and a Nasdaq listing, and the investor presentation says the cash raised depends on how many public shares are redeemed.
Key points
- Purchase price of $400 million, with 35 million Domesticated HCAC shares at closing and up to 5 million earnout shares
- Earnout shares are issuable if a single REEcycle facility reaches an annualized run rate of 50 metric tonnes per annum of mixed rare earth oxide over an average of 22 consecutive working days
- Closing conditions include HCAC and REEcycle shareholder approval, SEC effectiveness and Nasdaq listing
- Investor presentation gives an indicative target close of Q4 2026 and a minimum cash condition of $40 million
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.