Blackboxstocks Inc. (Nasdaq: BLBX) and REalloys Inc. announced the successful closing of their merger on February 24, 2026, after market close. Effective February 25, 2026, the combined company will operate as REalloys Inc. and its common stock will trade on the Nasdaq Capital Market under the ticker symbol “ALOY.” This transaction marks the public market debut of a vertically integrated North American heavy rare earth platform focused on establishing a secure, zero-China nexus supply chain aligned with U.S. defense procurement priorities.
As part of the merger agreement, Blackboxstocks’ board authorized a dividend of one contingent value right (CVR) for each share of common stock outstanding as of the record date, February 23, 2026, payable immediately prior to the merger’s consummation. These CVRs represent rights to receive cash payments related to certain transactions involving assets of Blackbox.io Inc., a subsidiary that conducted Blackboxstocks’ historical operations.
Following the closing, REalloys is positioned to advance its strategic objective of becoming the largest producer of heavy rare earth oxides and metals outside of China by the first half of 2027. The company believes it possesses some of the most advanced commercial-scale heavy rare earth separation and metallization assets outside of China. Key platform attributes include scaling oxide separation and metallization capacity to serve defense, advanced manufacturing, and protected industrial markets; a compliance advantage with a zero-China nexus supply chain aligned with anticipated 2027 U.S. defense procurement restrictions; leveraging existing infrastructure with phased expansion plans and reduced permitting risk; a feedstock-agnostic strategy utilizing allied and domestic sources; and an integrated growth path encompassing upstream resource development, midstream separation and metallization, and downstream magnet initiatives, including collaboration with the Japan Organization for Metals and Energy Security (JOGMEC).
The company’s integrated mine-to-magnet strategy includes upstream assets such as the 100% owned Hoidas Lake rare earth asset in Saskatchewan, a strategic partnership with U.S. government-backed Mission Critical Materials, and a portfolio of allied upstream feedstock providers and recycling partnerships. Midstream operations involve expanding North American separation, refining, and metallization capabilities in partnership with the Saskatchewan Research Council. Downstream, REallows owns PMT Critical Metals, the only advanced heavy rare earth metallization facility in the continental U.S., serving federal logistics and procurement agencies supporting the U.S. Department of Defense, Department of Energy, and NASA, as well as the broader Defense Industrial Base, Nuclear Industrial Base, and Organic Industrial Base.
REalloys enters the public markets at a pivotal time when geopolitical considerations, critical mineral policy, and national security priorities converge around the need for dependable, China-independent heavy rare earth capability. For more information, visit www.realloys.com or email info@realloys.com.
