The accounting corrections are mechanical and non-cash, with no change to total equity or trust account value. The more material catalyst is the pending REEcycle de-SPAC — monitor for shareholder vote, redemption rate, and closing timeline in Q4 2026.
Price Chart
Executive Summary
Hall Chadwick Acquisition Corp. filed this Amendment No. 1 to its Form 10-Q for the quarter ended June 30, 2026 to correct two accounting errors in the previously filed financial statements: (i) APIC was zeroed out and the excess transferred to accumulated deficit, reducing APIC by $7,433,993; and (ii) the carrying value of Class A ordinary shares subject to possible redemption was adjusted to the trust account balance. Management determined the errors were not material and characterized the revision as a 'little r revision' under ASC 250. The filing follows two prior late-filing notices (NT 10-Q and NT 10-K) and a pending de-SPAC business combination with REEcycle Holdings, Inc., announced in June 2026.
Key Facts
- Correction to APIC: APIC reduced to zero and $7,433,993 transferred to accumulated deficit.
- Carrying value of Class A ordinary shares subject to possible redemption adjusted to $211,478,766 (June 30, 2026) and $207,786,276 (Dec 31, 2025) — matching trust account balance.
- Errors characterized as 'little r revision' under ASC 250; management states they were not material to previously issued financial statements.
- Company had $35,741 cash outside trust account as of June 30, 2026; trust account held $211,478,766.
- Accumulated deficit was $8,233,321 as of June 30, 2026; going concern substantial doubt disclosed.
- Business Combination Agreement with REEcycle Holdings, Inc. signed May 31, 2026; expected to close in Q4 2026.
- Prior late filings: NT 10-Q (May 18, 2026) and NT 10-K (March 31, 2026).
Financial Impact
APIC reduced by $7,433,993; accumulated deficit increased by same amount. No change to total shareholders' deficit or cash position.
Risk Factors
- Going concern substantial doubt raised; only $35,741 cash outside trust account to fund operations.
- De-SPAC may fail if shareholder redemptions are high or regulatory conditions not met.
- History of late filings (NT 10-Q, NT 10-K) and a significant deficiency in internal controls disclosed.
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-Q/A Filing (Primary) | 0001829126-26-010338 |
| Document: hallchadwickacq_ex31-1.htm | 0001829126-26-010338 |
| Document: hallchadwickacq_ex31-2.htm | 0001829126-26-010338 |
| Document: hallchadwickacq_ex32-2.htm | 0001829126-26-010338 |
| Document: hallchadwickacq_ex32-1.htm | 0001829126-26-010338 |
| Document: 0001829126-26-010338-index-headers.html | 0001829126-26-010338 |
| Document: 0001829126-26-010338-index.html | 0001829126-26-010338 |
| Document: 0001829126-26-010338.txt | 0001829126-26-010338 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 2, 2026 25d ago | 425 | $10.13 $10.15 | ▲ +0.20% | ▼ −0.96% | $10.13 (−0.00%) |
Oct 2, 2026 25d ago | 8-K | $10.13 $10.15 | ▲ +0.20% | ▼ −0.96% | $10.13 (−0.00%) |
Sep 30, 2026 27d ago | 10-Q/A | $10.13 $10.13 | · 0.00% | ▼ −1.91% | $10.13 (+0.00%) |
Sep 23, 2026 4w ago | 10-Q/A | $10.12 $10.13 | ▲ +0.10% | ▲ +0.77% | $10.13 (+0.10%) |
Sep 23, 2026 4w ago | 10-K/A | $10.12 $10.13 | ▼ −0.10% | ▼ −0.77% | $10.13 (−0.10%) |
Jun 26, 2026 17w ago | 8-K | $10.03 $10.05 | ▲ +0.20% | ▼ −1.19% | $10.13 (+1.00%) |
US Market Status
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