Rice Acquisition Corp. II Announces Full Exercise of Over-Allotment Option and Closing of $345,000,000 Initial Public Offering

Rhea-AI Summary

Rice Acquisition Corp. II successfully closed its IPO, raising $345 million by offering 34,500,000 units at $10.00 per unit. This includes 4,500,000 units from the underwriters' over-allotment. The units began trading on the NYSE under the symbol “RONI U” on June 16, 2021. Each unit comprises one Class A ordinary share and one-fourth of a warrant, allowing for share purchase at an exercise price of $11.50. Citigroup and Barclays were the joint book-running managers for the offering.

Positive

• Raised $345 million from IPO to support future business combinations.
• Strategic focus on energy transition and sustainability markets.

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• None.

Rice Acquisition Corp. II (the “Company”) announced today the closing of its initial public offering (“IPO”) of 34,500,000 units, including 4,500,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit. Total gross proceeds from the offering were $345,000,000, before deducting underwriting discounts and commissions and other offering expenses. The units began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “RONI U” on June 16, 2021. Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “RONI” and “RONI WS,” respectively.

Citigroup and Barclays acted as joint book-running managers for the offering. AmeriVet Securities and Academy Securities acted as co-managers for the offering.

The offering has been made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; and 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 was filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”) on June 15, 2021. 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.

About Rice Acquisition Corp. II

Rice Acquisition Corp. II is a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. 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 listing on the NYSE of the shares and warrants underlying the units. 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210618005523/en/

FAQ

What was the total amount raised by Rice Acquisition Corp. II's IPO?

Rice Acquisition Corp. II raised a total of $345 million through its IPO.

When did Rice Acquisition Corp. II's units start trading on the NYSE?

The units began trading on the NYSE under the symbol 'RONI U' on June 16, 2021.

What does each unit of Rice Acquisition Corp. II consist of?

Each unit consists of one Class A ordinary share and one-fourth of a redeemable warrant.

At what price can warrants from the IPO be exercised?

Warrants can be exercised at an exercise price of $11.50 per share.

Who managed the IPO of Rice Acquisition Corp. II?

Citigroup and Barclays acted as joint book-running managers for the IPO.