• Nth Cycle agreed to combine with Kensington Capital Acquisition Corp. VI, taking the critical minerals refiner public on the NYSE as Nth Cycle Holdings.
• The combined company is expected to trade under ticker NTH; closing is targeted for Q4 2026.
• The deal implies a pro forma enterprise value of about $585 million, assuming no redemptions and estimated transaction expenses.
• Expected proceeds include up to $230 million from Kensington’s trust, subject to redemptions, and up to $100 million in PIPE equity.
• PIPE commitments total $40 million to date; Nth Cycle cited a 10-year offtake term sheet with Trafigura valued at about $1.1 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kensington Capital Acquisition Corp. VI published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-311388), on July 22, 2026, and is solely responsible for the information contained therein.