REEcycle and Hall Chadwick Acquisition Win SEC Nod for Proposed Nasdaq Listing
The SEC declared effective the Form S-4 for REEcycle's business combination with Hall Chadwick Acquisition Corp. A shareholder vote is set for December 10, 2026.
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what happened
The US Securities and Exchange Commission has declared effective the Form S-4 registration statement tied to the proposed business combination between REEcycle Holdings and the special purpose acquisition company Hall Chadwick Acquisition Corp. The companies announced the milestone in a press release distributed by GlobeNewswire.
The transaction values REEcycle at about US$350 million in equity value, plus an additional US$50 million earnout, bringing the total to roughly US$400 million. Existing REEcycle shareholders are expected to roll over 100% of their equity into the combined company. The SPAC plans a shareholder meeting on December 10, 2026, and expects the deal to close before the end of 2026, subject to approval and other conditions.
REEcycle recovers rare earth elements from end-of-life permanent magnets and has received a US$5.1 million award under the US Department of War's Defense Production Act Title III program. The company targets an initial commercial facility with planned annual capacity of about 160 metric tons, though that depends on financing and construction.
why it matters
The deal matters for markets as a route for a rare-earth recycling company to reach US public capital markets. It fits a broader push to build domestic rare-earth supply chains. The announcement contains no data on rare-earth prices, and the company is still moving from demonstration-scale operations.
market impact
Rare earths: a new listed player in recycling, with limited direct effect on prices for now
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