On November 13, 2026, Hall Chadwick Acquisition Corp. (HCAC) and REEcycle Holdings, Inc. jointly announced that the U.S. Securities and Exchange Commission (SEC) has declared effective the registration statement on Form S-4. This filing is related to the previously announced proposed business combination between the two companies.
The declaration of effectiveness marks a significant milestone toward the completion of the transaction and REEcycle’s proposed listing on the Nasdaq Stock Market. Following this milestone, HCAC expects to hold a shareholder meeting on December 10, 2026, to consider and vote upon the proposed business combination and related proposals.
Under the terms of the business combination agreement, the transaction is valued at approximately $350 million in equity value, with an additional $50 million earnout. Existing REEcycle shareholders are expected to roll over 100% of their equity interests into the combined company. The transaction is anticipated to close before the end of 2026, subject to shareholder approval and the satisfaction or waiver of other closing conditions.
REEcycle is a U.S.-based rare-earth recycling technology company focused on recovering rare-earth elements from end-of-life permanent magnets. The company has received a $5.1 million award under the U.S. Department of War’s Defense Production Act Title III program. REEcycle is developing a demonstration facility in Duncan, Oklahoma, with plans for an initial commercial-scale facility targeting an annual processing capacity of approximately 160 metric tons.
Upon completion, the combined company is expected to operate under the REEcycle name, with its common stock expected to trade on Nasdaq under the ticker symbol REC, subject to approval for listing.
