Nth Cycle to list on NYSE, challenging China's critical mineral dominance

Nth Cycle Inc. will go public on the NYSE through a merger with Kensington Capital Acquisition Corp. VI. The combined entity will be named Nth Cycle Holdings, Inc. and trade under the ticker symbol NTH.

The transaction implies a pro forma enterprise value of approximately $585 million. Nth Cycle provides domestic refining for rare earth elements, copper, and battery metals.

These materials support critical infrastructure for electrification, defense, and AI. The company’s proprietary electro-extraction technology serves as a cleaner and faster alternative to traditional refining.

This listing aims to reduce U.S. and allied reliance on China for refined critical materials.