Hall Chadwick Acquisition Corp to Merge with REEcycle

New York, June 1, 2026 - Hall Chadwick Acquisition Corp. (Nasdaq: HCAC), a special purpose acquisition company, has entered into a definitive business combination agreement with REEcycle Holdings, Inc., a U.S.-based specialist in rare earth element recycling. The transaction aims to create the first publicly traded pure-play rare earth recycling platform in the United States, positioning the combined entity to bolster domestic supply chains for critical minerals.

Transaction Details

• The deal values REEcycle at an equity value of US$400 million, including a US$50 million contingent earnout tied to achieving production milestones.
• The combined company is expected to hold a minimum of US$40 million in unrestricted cash at closing to support commercialization and growth.
• Both companies' boards of directors have unanimously approved the business combination.
• Upon completion, the company will be listed on the Nasdaq Stock Market.

Strategic Importance

• The merger directly addresses U.S. national security vulnerabilities related to dependence on China for separated and refined rare earth elements used in electric vehicles, defense systems, and clean energy.
• REEcycle's proprietary hydrometallurgical technology recovers rare earth elements from end-of-life magnets, offering a sustainable, domestically controlled supply alternative to traditional mining.
• The company has already secured non-dilutive funding from the Department of War and is positioned to capitalize on federal support programs like the Inflation Reduction Act and the Defense Production Act.