Hall Chadwick Acquisition Corp. (HCAC) has entered into binding subscription agreements for a private investment in public equity (PIPE) related to its proposed business combination with REEcycle Holdings, Inc. The agreements were executed on September 30, 2026, with entities controlled by three specific individuals: Michael McMullen, Richard Albarran, and Drew Townsend.
Under the terms of the Initial Subscription Agreements, the purchasers agreed to buy an aggregate of 210,000 shares of Domesticated HCAC Common Stock at a price of $10.00 per share. This transaction is expected to generate gross proceeds of $2.1 million. The PIPE investment is contingent solely upon the closing of the business combination.
The securities issued under these agreements are not registered under the Securities Act of 1933 and will be issued pursuant to exemptions from registration, including Section 4(a)(2) and Rule 506 of Regulation D. Cohen & Company Capital Markets is serving as the placement agent for the transaction.
In connection with the business combination, Hall Chadwick Acquisition Corp. and REEcycle Holdings, Inc. filed a registration statement on Form S-4 with the SEC on October 1, 2026. This filing includes a preliminary proxy statement/prospectus intended to be distributed to shareholders in connection with a vote on the proposed transaction.
