The Nasdaq Capital Market has approved the listing application for REalloys Inc. in connection with its merger with Blackboxstocks Inc., with the transaction expected to close after market hours on February 24, 2026. Following the closing, the combined company will begin trading on the Nasdaq Capital Market under the ticker symbol "ALOY" effective February 25, 2026. This development represents a significant milestone in establishing secure domestic supply chains for materials essential to defense, clean-energy, and high-performance industrial applications.
REalloys will operate as a publicly traded, vertically integrated North American heavy rare earth platform designed specifically for national security and defense-oriented supply chain resilience. The company aims to become the largest producer of heavy rare earth oxides and metals outside of China by the first half of 2027, supported by what it describes as among the most advanced commercial-scale heavy rare earth separation and metallization assets outside of China. This strategic positioning addresses growing concerns about supply chain vulnerabilities in critical materials.
The company believes it is positioned to be the only North American heavy rare earth platform with a zero-China nexus supply chain aligned with 2027 U.S. defense procurement restrictions. This purpose-built platform supports the Defense Industrial Base and currently services the Defense Logistics Agency. REalloys' advanced execution profile is built on existing infrastructure with phased expansion plans, comparatively limited incremental capital requirements, and reduced permitting risk relative to greenfield peers, making it a potentially more reliable and cost-effective solution for defense needs.
REalloys' feedstock strategy is designed to be feedstock-agnostic and diversified, avoiding reliance on a single captive source of feedstock and mitigating supply concentration risk that constrains many competing platforms. The company is currently executing a phased scale strategy across oxide separation, metallization, and downstream magnet initiatives, including collaboration efforts with JOGMEC, described as the most leading-edge organization on magnets outside of China, to support high-performance magnet manufacturing for strategic and protected markets. This comprehensive approach encompasses upstream resource development, midstream processing, and downstream manufacturing, creating a coordinated system that processes and converts rare-earth materials from allied and domestic sources into high-purity products.
The merger comes at a pivotal moment as national security, advanced manufacturing, and allied supply chains converge around the need for dependable, China-free heavy rare earth capability. Investors and security holders can obtain free copies of documents related to the merger through the website maintained by the SEC at https://www.sec.gov. The documents filed by Blackboxstocks may be obtained free of charge from the company's website at https://blackboxstocks.com or by written request to the company. Additional information about REalloys is available at https://www.realloys.com. REalloys' entry into public markets represents a significant development in efforts to establish secure domestic supply chains for materials critical to multiple strategic sectors, potentially reducing dependence on foreign sources for essential defense and industrial materials.
