Founder SPAC scheduled an Aug. 2 meeting for shareholders to vote on its proposed acquisition of Rubicon Technologies, a digital marketplace for waste and recycling and provider of software-based solutions for businesses and governments worldwide. The SPAC also said in a news release that its registration statement on the deal has been declared effective by the SEC.
The deal has an implied pro forma enterprise value of approximately $1.7 billion and pro forma equity value of approximately $2 billion.
The transaction would deliver to Rubicon approximately $432 million (less any 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. Read more.
