Rice Acquisition Corp. Announces Pricing of Initial Public Offering

Rhea-AI Summary

Rice Acquisition Corp. has priced its initial public offering (IPO) at $10.00 per unit, totaling 20,000,000 units. The IPO is set to trade under the symbol 'RICE U' on the NYSE starting October 22, 2020. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with full warrants exercisable at $11.50 per share. Barclays leads the offering, with a 45-day option for underwriters to purchase an additional 3,000,000 units. The IPO closing is anticipated on October 26, 2020, pending customary conditions.

Positive

• Successful pricing of 20,000,000 units at $10.00 each for initial public offering.
• Opportunity for additional $3,000,000 units through underwriter's option.
• Listing on NYSE enhances visibility and attractiveness to investors.

Negative

• Market conditions may affect the completion of the IPO.
• Forward-looking statements indicate potential risks and uncertainties surrounding the offering.

CARNEGIE, Pennsylvania, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Rice Acquisition Corp.  (the “Company”) announced today the pricing of its initial public offering (“IPO”) of 20,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “RICE U” beginning on October 22, 2020. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “RICE” and “RICE WS,” respectively.

Barclays is acting as book running manager for the proposed offering. Academy Securities, Inc. and AmeriVet Securities, Inc. are acting as co-managers for the proposed offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the IPO price.

The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: barclaysprospectus@broadridge.com, telephone: 1-888-603-5847.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 21, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The initial public offering is expected to close on October 26, 2020, subject to customary closing conditions.

About Rice Acquisition Corp.

Rice Acquisition Corp. is a newly organized blank check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. The Company’s efforts to identify a prospective target business will not be limited to a particular industry, although it intends to focus its search for a target business in the broadly defined energy transition or sustainability arena.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the IPO. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

J. Kyle Derham
Email: kyle@riceinvestmentgroup.com
Phone: (713) 446-6259

FAQ

What is the IPO price for Rice Acquisition Corp. units?

The IPO price is set at $10.00 per unit.

When will Rice Acquisition Corp. start trading on the NYSE?

Trading is expected to begin on October 22, 2020.

What is included in each unit of Rice Acquisition Corp. IPO?

Each unit consists of one share of Class A common stock and one-half of one redeemable warrant.

What is the exercise price for the warrants issued by Rice Acquisition Corp.?

The exercise price for each whole warrant is $11.50 per share.

What is the anticipated closing date for the Rice Acquisition Corp. IPO?

The IPO is expected to close on October 26, 2020.