Business
Hall Chadwick Acquisition Corp. Announces Letter of Intent with REEcycle Holdings for De-SPAC Business Combination
NEW YORK, April 01, 2026 (GLOBE NEWSWIRE) -- Hall Chadwick Acquisition Corp. (Nasdaq: HCACU) (“HCAC”) and REEcycle Holdings, Inc. (“REEcycle”) today announced the execution of a non-binding Letter of Intent (“LOI”) for a proposed de-SPAC business combination. The proposed transaction values REEcycle at approximately US$600 million, assuming no redemptions by HCAC public shareholders, with REEcycle existing shareholders expected to roll 100% of their equity into the combined publicly listed entit
About this update from Hall Chadwick Acquisition Corp.
[{"type":"text","content":"NEW YORK, April 01, 2026 (GLOBE NEWSWIRE) -- Hall Chadwick Acquisition Corp. (Nasdaq: HCACU) (“HCAC”) and REEcycle Holdings, Inc. (“REEcycle”) today announced the execution of a non-binding Letter of Intent (“LOI”) for a proposed de-SPAC business combination.","length":259,"tagName":"p"},{"type":"text","content":"The proposed transaction values REEcycle at approximately US$600 million, assuming no redemptions by HCAC public shareholders, with REEcycle existing shareholders expected to roll 100% of their equity into the combined publicly listed entity. The transaction is expected to include a minimum US$50 million PIPE financing at US$10.00 per share, providing committed capital at closing and supporting the execution of REEcycle’s near-term growth strategy.","length":452,"tagName":"p"},{"type":"text","content":"The transaction comes at a pivotal time for U.S. critical minerals policy. China currently controls an estimated 90% of rare earth separation and processing and ~93% of permanent magnet manufacturing globally.1 In response, the U.S. Government, through Department of Defense and Department of Energy initiatives, has committed billions of dollars to strengthening domestic critical mineral supply chains, including rare earth processing.2 REEcycle has been awarded and is drawing upon US$5.1 million of Defense Production Act funding, supporting the advancement of its domestic rare earth processing capabilities.","length":613,"tagName":"p"},{"type":"text","content":"REEcycle is advancing a technology-led solution to rare earth supply constraints. Its proprietary recycling process extracts and separates rare earth elements from end-of-life electronics and industrial products, offering a faster, lower-capex and scalable alternative to traditional mining. This approach enables near-term domestic supply while reducing exposure to geopolitical disruption.","length":391,"tagName":"p"},{"type":"text","content":"The global rare earth market was valued at approximately US$19 billion in 2025 and is projected to reach ~US$36.7 billion by 2034, with recycling expected to grow at an accelerated rate as demand for domestically sourced materials increases.3","length":242,"tagName":"p"},{"type":"text","content":"REEcycle’s Executive Chairman and largest shareholder is Mick McMullen, a highly respected mining executive with over 30 years of lea...