Rubicon Technologies, a certified B-Corporation and software platform that provides smart waste and recycling solutions for businesses and governments, and Founder SPAC today announced plans to merge at an implied pro forma enterprise value of approximately $1.7 billion and pro forma equity value of approximately $2 billion. If approved, the deal is expected to close in the second quarter of 2022.
Rubicon Technologies would trade on the New York Stock Exchange under new ticker symbol RBT. The company will continue to be based in Lexington, Kentucky.
The transaction would deliver to Rubicon gross proceeds of approximately $432 million (assuming no redemptions and prior to the payment of transaction expenses), including a $111 million fully committed PIPE, anchored by Palantir Technologies, the New Zealand Super Fund, and Rodina Capital. Read more.
