Rubicon, a Leading Digital Marketplace for Waste and Recycling, Completes Business Combination with Founder SPAC
16 8월 2022 - 6:14AM
- Transaction accelerates Rubicon’s mission to end waste through
digital transformation of the waste and recycling category
- Rubicon raised approximately $196.8 million in gross proceeds,
consisting of funds from Founder SPAC’s trust account and PIPE
investments, after redemptions and prior to the payment of
transaction fees and expenses and amounts payable under Founder’s
previously-disclosed forward purchase agreement
- Rubicon Class A common stock to begin trading on the NYSE
tomorrow, August 16th, under ticker “RBT”
Rubicon Technologies, Inc. (“Rubicon”), a
leading digital marketplace for waste and recycling and provider of
innovative software-based products for businesses and governments
worldwide, today announced that it has completed its business
combination with Founder SPAC (“Founder”).
The combined company will operate under the name
Rubicon Technologies, Inc., and will continue to be led by Nate
Morris, Chairman and Chief Executive Officer. Commencing at the
open of trading on August 16, 2022, Rubicon’s Class A common stock
and warrants are expected to trade on the New York Stock Exchange
(“NYSE”) under the symbols “RBT” and “RBT WS,” respectively.
The transaction was approved by Founder’s
shareholders at an extraordinary general meeting held on August 2,
2022 (the “Extraordinary Meeting”). Over 97% of the votes cast on
the business combination proposal at the Extraordinary Meeting were
cast in favor of approving the business combination. Founder’s
shareholders also voted to approve all other proposals presented at
the Extraordinary Meeting.
“Becoming a public company is a tremendous step
forward for Rubicon and will elevate our platform and products,
while further accelerating our mission to end waste through the
reimagining of the waste and recycling category,” said Nate Morris,
Chairman and Chief Executive Officer of Rubicon. “I started Rubicon
with a $10,000 line of credit and maxed out credit cards, and since
that time our products have empowered our customers and hauler
partners to make data-driven decisions that can lead to more
efficient and effective operations as well as more sustainable
waste outcomes. This value proposition has allowed Rubicon to scale
our platform considerably and, as a well-capitalized public
company, we are positioned to further scale our technology to
transform the $2.1 trillion global waste and recycling market.”
Transaction OverviewAs a result of the
transaction, Rubicon raised $196.8 million in gross proceeds,
consisting of funds from Founder’s trust account and PIPE
investments, after redemptions and prior to the payment of
transaction fees and expenses and amounts payable under Founder’s
previously-disclosed forward purchase agreement. Rubicon intends to
use the proceeds to capitalize on significant future growth from
organic and inorganic opportunities, as well as continued
investment in new software development.
AdvisorsMoelis & Company LLC acted as
exclusive financial advisor to Founder. Cohen & Company Capital
Markets, a division of J.V.B. Financial Group, LLC, acted as
financial advisor to Rubicon. Cohen & Company Capital Markets
and Moelis & Company LLC served as placement agents to Founder.
Jefferies LLC served as capital markets advisor to Founder.
Canaccord Genuity and MKM Partners served as capital markets
advisors to Rubicon. Winston & Strawn, LLP served as legal
advisor to Founder. Gibson, Dunn & Crutcher LLP served as legal
advisor to Rubicon.
About Rubicon
Rubicon Technologies, Inc. (NYSE: RBT) is a
digital marketplace for waste and recycling, and provider of
innovative software-based products for businesses and governments
worldwide. Creating a new industry standard by using technology to
drive environmental innovation, the company helps turn businesses
into more sustainable enterprises, and neighborhoods into greener
and smarter places to live and work. Rubicon’s mission is to end
waste. It helps its partners find economic value in their waste
streams and confidently execute on their sustainability goals. To
learn more, visit www.Rubicon.com.
Forward-Looking Statements This press
release includes “forward-looking statements” within the meaning of
the “safe harbor” provisions of the United States Private
Securities Litigation Reform Act of 1995 and within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements, other than statements of present or historical fact
included in this press release, are forward-looking statements.
When used in this press release, the words “could,” “should,”
“will,” “may,” “believe,” “anticipate,” “intend,” “estimate,”
“expect,” “project,” the negative of such terms and other similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such
identifying words. Such forward-looking statements are subject to
risks, uncertainties, and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. These forward-looking statements
are based upon estimates and assumptions that, while considered
reasonable by Rubicon and its management, are inherently uncertain;
factors that may cause actual results to differ materially from
current expectations include, but are not limited to: 1) the
outcome of any legal proceedings that may be instituted against
Rubicon or others following the closing of the business
combination; 2) the ability to meet the NYSE’s listing standards
following the consummation of the business combination; 3) the risk
that the business combination disrupts current plans and operations
of Rubicon as a result of consummation of the business combination;
4) the ability to recognize the anticipated benefits of the
business combination, which may be affected by, among other things,
the ability of the combined company to grow and manage growth
profitably, maintain relationships with customers and suppliers and
retain its management and key employees; 5) costs related to the
business combination; 6) changes in applicable laws or regulations;
7) the possibility that Rubicon may be adversely affected by other
economic, business and/or competitive factors; and 8) other risks
and uncertainties set forth in the sections entitled “Risk Factors”
and “Cautionary Note Regarding Forward-Looking Statements” in
Founder’s Registration Statement on Form S-4 filed with the U.S.
Securities and Exchange Commission (“SEC”), and other documents of
Founder filed, or of Rubicon, to be filed, with the SEC. Although
Rubicon believes the expectations reflected in the forward-looking
statements are reasonable, nothing in this press release should be
regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward looking statements will be
achieved. There may be additional risks that Rubicon presently does
not know of or that Rubicon currently believes are immaterial that
could also cause actual results to differ from those contained in
the forward-looking statements. You should not place undue reliance
on forward-looking statements, which speak only as of the date they
are made. Rubicon does not undertake, and expressly disclaims, any
duty to update these forward-looking statements, except as
otherwise required by applicable law.
Investor Contact:
Sioban Hickie, ICR, Inc.
RubiconIR@icrinc.com
Media Contact:
Dan Sampson
Chief Marketing & Corporate Communications Officer
dan.sampson@rubicon.com
RubiconPR@icrinc.com
Founder SPAC (NASDAQ:FOUN)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Founder SPAC (NASDAQ:FOUN)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
