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Rubicon Technologies has completed its merger with Founder SPAC, raising approximately $196.8 million in gross proceeds to accelerate its mission in the waste and recycling sector. Starting August 16, 2022, Rubicon's stock will trade on the NYSE under the ticker RBT. Over 97% of Founder shareholders voted in favor of the transaction. CEO Nate Morris emphasized this transition enhances their platform's capabilities and positions Rubicon to capitalize on the $2.1 trillion global waste and recycling market through significant growth opportunities.
Founder SPAC (Nasdaq: FOUN) has announced a forward purchase agreement worth up to $150 million with ACM ARRT F LLC in connection with its proposed business combination with Rubicon Technologies. This merger is anticipated to take Rubicon public on the NYSE under the ticker symbol RBT by Q3 2022, subject to customary closing conditions. Rubicon offers a digital marketplace for waste management and recycling with a mission to promote sustainability by transforming waste into economic value.
Founder SPAC (Nasdaq: FOUN) announced that over 97% of shareholders approved the business combination with Rubicon Technologies during an extraordinary meeting on August 2, 2022. Founder also secured approval for all other proposals presented at the meeting. Rubicon operates as a digital marketplace for waste and recycling, providing software solutions aimed at enhancing sustainability. Founder plans to file the meeting results with the SEC on Form 8-K.
Founder SPAC (Nasdaq: FOUN, FOUNU, FOUNW) announced the voluntary transfer of its Class A ordinary shares and public warrants from Nasdaq to the NYSE. This transition is part of the impending business combination with Rubicon Technologies, a digital marketplace specializing in waste and recycling. Upon completion, Founder units will separate, converting shares into Class A common stock and warrants for the new entity, Rubicon Technologies, Inc. The combined company’s shares will trade as ‘RBT’ starting early August 2022, pending the fulfillment of NYSE listing requirements.
Rubicon Technologies has nominated Paula Henderson of SAS to its Board of Directors following its upcoming business combination with Founder SPAC (FOUN). Henderson, known for her leadership in digital solutions at SAS, aims to leverage her experience to enhance Rubicon's operations and sustainability initiatives. The merger is set to finalize in early Q3 2022, promising to elevate Rubicon's presence as a public entity on the NYSE under the ticker 'RBT'. The company's mission focuses on transforming waste management through technology.
Rubicon Technologies has nominated Jack Selby, Managing Director at Thiel Capital and former PayPal executive, to its Board of Directors following the expected business combination with Founder SPAC (Nasdaq: FOUN). Selby's deep experience in corporate governance, finance, and technology strategy is anticipated to guide Rubicon post-combination. The merger aims to position Rubicon as a leader in the digital waste and recycling marketplace. The company is set to trade on the NYSE under the ticker symbol 'RBT' in early Q3 2022, subject to closing conditions.
On July 6, 2022, Founder SPAC (Nasdaq: FOUN) announced that the SEC has declared effective its registration statement on Form S-4, related to its business combination with Rubicon Technologies, LLC. The definitive proxy statement will be mailed to shareholders as of May 24, 2022. An Extraordinary Meeting for shareholder voting is scheduled for August 2, 2022, in Houston and virtually. If approved, the combined entity will trade under the new ticker symbols 'RBT' and 'RBT WS' on the NYSE shortly thereafter.
Rubicon Technologies announced CEO Nate Morris delivered a commencement speech at the 2022 Governor's School for Entrepreneurs in Kentucky, emphasizing the importance of innovation and entrepreneurship in the heartland. Morris shared his journey of building Rubicon into a billion-dollar company and inspired future entrepreneurs to chase their ideas. The GSE fosters a creative environment where students develop business models and prototypes. Additionally, Rubicon is set to become a public company through a merger with Founder SPAC (FOUN), expected in Q3 2022, under the new ticker symbol 'RBT'.
Rubicon Technologies has nominated Coddy Johnson, former President and COO of Activision Blizzard, for election to its Board of Directors following its merger with Founder SPAC (NASDAQ: FOUN). Johnson brings extensive experience in technology leadership and corporate governance, having managed over $8 billion in annual revenue at Activision Blizzard. His appointment is expected to enhance Rubicon's mission to drive environmental innovation and sustainability. The merger is anticipated to finalize in early Q3 2022, transitioning Rubicon to public status under the ticker symbol RBT.
