Founder SPAC filed a Form S-4 outlining its proposed merger with Rubicon Technologies, a Certified B Corporation and innovative software platform that provides smart waste and recycling solutions for businesses and governments worldwide.
The transaction has 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.
The transaction would deliver to Rubicon gross proceeds of approximately $432 million (assuming no redemptions and prior to expenses), including a $111 million PIPE anchored by Palantir Technologies, the New Zealand Super Fund, and Rodina Capital.
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. Read more.
