Leonardo DiCaprio-backed Rubicon Technologies, a software maker for waste and recycling solutions, on Thursday agreed to go public through a merger with blank-check firm Founder SPAC in a deal valuing the combined company at about $2 billion.
Rubicon, founded in 2008, provides technology-driven solutions for waste management to enterprises such as Starbucks and Apple in order to limit their emissions and carbon footprint.
The deal with Founder SPAC will provide Rubicon with up to $432 million in gross proceeds — about $321 million from the special purpose acquisition company’s (SPAC) trust account and $111 million from investors such as Palantir Technologies, the New Zealand Super Fund and Rodina Capital.
Read more/Source: Reuters
