Jul 2026
Conyers is acting as Cayman Islands legal counsel to Nth Cycle Inc. (“Nth Cycle”) on its entry into a US$585 million business combination agreement with Kensington Capital Acquisition Corp. VI (NYSE: KCAC), a special purpose acquisition company, which will result in the combined company becoming a publicly traded company on the NYSE upon completion of the business combination (subject to closing conditions).
Nth Cycle is building the refining capacity needed to secure Western critical mineral supply chains. Its OYSTER system converts the rare earth elements, copper, and battery metals found in mined and recycled materials into industrial-grade inputs for some of the world’s most strategic industries.
The proposed business combination implies a pro forma enterprise value of approximately US$585 million.
The Conyers team is led by mergers and acquisitions Partners Alex Davies and Matthew Stocker, Senior Associate Mauricio Da Rocha and Associate Daniel Cannon.