Hall Chadwick Acquisition Corp. is a SPAC — a blank check company with no operations or revenue, formed solely to identify and acquire a private business, taking it public without a traditional IPO. Hall Chadwick raised $207M in its November 2025 IPO at $10.00 per unit, with proceeds held in trust in U.S. government securities or money market funds. The company has until November 2027 to complete a business combination, or it must liquidate and return funds to shareholders at approximately $9.99 per share. Hall Chadwick's stated focus is on technology, critical minerals, and energy, though it is not contractually restricted to these sectors. In April 2026, Hall Chadwick entered into a non-binding letter of intent with REEcycle Holdings as a potential merger target, though no definitive agreement has been signed. The sponsor, Hall Chadwick Capital LLC, purchased founder shares at a nominal price, creating a strong incentive to complete a deal regardless of whether that deal creates value for public shareholders. Hall Chadwick's management team is based in Singapore and has prior SPAC experience — their previous vehicle, Fat Projects Acquisition Corp., raised $100M in 2021 but failed to complete a business combination and was liquidated in early 2024. Up to $8.28M in deferred underwriting fees is payable upon deal completion. Hall Chadwick intends to acquire at least 50% of a target's voting securities, and Nasdaq rules require the target's fair market value to be at least 80% of the trust balance at signing.