What is the enterprise value of Nth Cycle following its SPAC merger, and what will be the name and stock ticker of the combined company?

The merger will value Nth Cycle at an enterprise value of $585 million. The combined company will be named Nth Cycle Holdings Inc. and is expected to trade on the New York Stock Exchange under the ticker 'NTH'.

How much capital is Nth Cycle expected to receive from the SPAC deal, and what are the intended uses of those funds?

The deal is expected to provide up to $230 million from Kensington's trust account and up to $100 million from a common stock PIPE, including $40 million already committed. Nth Cycle plans to use the funds to expand its refining capacity and help reduce Western reliance on China for processed critical minerals.

Critical mineral refiner Nth Cycle to go public in $585 million SPAC deal

Jul 22, 2026

Critical mineral refiner Nth Cycle will merge with Kensington Capital Acquisition in a $585 million SPAC deal to expand refining capacity and reduce Western reliance on China for processed minerals. The combined entity will trade on the NYSE under the ticker "NTH".

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Critical mineral refiner Nth Cycle to go public in $585 million SPAC deal

Critical mineral refiner Nth Cycle to go public in $585 million SPAC deal

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