Sustainability SPAC Rice Acquisition II priced its IPO of 30 million units at $10 per unit. The offering was upsized from a base of 25 million units.
The units begin trading today on the NYSE under RONI U. Each consists of one Class A ordinary share and one-fourth of one redeemable warrant, with each whole warrant exercisable at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under RONI and RONI WS, respectively.
Citigroup and Barclays are joint book-running managers for the offering. AmeriVet Securities and Academy Securities are co-managers. The SPAC has granted the underwriters a 45-day option to purchase up to an additional 4.5 million units at the IPO price.
The SPAC plans to target companies in the sustainability and energy transition sectors. Read more.
