Rice Acquisition Corp.
RICE · NYSE
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Rice (Rogers James Wilmot), listed on NYSE in October 2020.
- What it's doing now
- It agreed to buy Archaea Energy Inc., a renewable natural gas production from landfill gas company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Archaea Energy Inc.
- Industry
- Energy — renewable natural gas production from landfill gas
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 23 October 2020
- size not on file
- Headquarters
- 4444 WESTHEIMER ROAD, HOUSTON, TX, 77027
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Jackson Kathryn Jean (Director) · Derham Kyle (Director) · Torgerson James P (Director)
- Listed securities
- RICE common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 23 October 2020IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedEnergyDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
- Min-cash condition
- $150M
- Break fee
- $115M
The score
deterministic, from filed fieldsRICE is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Rice Acquisition Corp. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker LFG, classified under SEC SIC industry code 4932 (Gas & Other Services Combined). The company priced its initial public offering on October 23, 2020, pursuant to a 424B4 prospectus (accession 0001213900-20-033072) filed under S-1 registration statement 0001213900-20-030317 (SEC file number 333-249340), which registered shares sold for cash. The registrant described itself as a blank-check company in that same prospectus. The company completed a business combination and no longer files under its original registration, as evidenced by Form 25 (accession 0000876661-22-001206) filed on December 28, 2022, under 17 CFR 240.12d2-2(a)(3), indicating that the shares came to evidence other securities in substitution therefor. The successor registrant, NET Power Inc. (ticker NPWR, CIK 0001845437), filed an 8-K with item 2.01 (Completion of Acquisition) naming Rice Acquisition Corp., and EDGAR now lists the original CIK (0001823766) under the name Archaea Energy Inc.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
This is a cash sale of the de-SPAC to a strategic buyer rather than another business combination. Each Class A share and each Opco Class A Unit held immediately prior to the effective time receives $26.00 in cash without interest, less applicable withholding, unless the holder seeks and perfects statutory appraisal rights under Delaware law; each Class B share is automatically cancelled and extinguished with no conversion and no consideration paid for it. The merger cannot be completed unless holders of a majority of the outstanding shares entitled to vote adopt the merger agreement.
This is the preliminary form of the take-private of the vehicle that resulted from Rice Acquisition Corp.'s business combination. Each Class A share and each Opco Class A Unit receives $26.00 in cash without interest, less applicable withholding taxes, unless the holder seeks and perfects statutory appraisal rights under Delaware law, and each Class B share is automatically cancelled and extinguished with no consideration paid for it. The Archaea board unanimously declared the merger advisable and approved it together with the Warrant Agreement Amendment and the Opco LLC Agreement Amendment.
This is two acquisitions put to one meeting, each under its own Business Combination Agreement dated April 7, 2021 and each with its own equityholder representative — Aria Renewable Energy Systems LLC for one, Archaea Energy LLC and Archaea Energy II LLC for the other. The targets sit four levels below the public company: RAC, then RAC Opco, then RAC Intermediate, then RAC Buyer, which is the entity that ends up holding both. A RAC holder's interest in the operating businesses is therefore indirect.
The two deals are paid very differently. Aria's members are to receive approximately $680.0 million, of which $450.0 million is cash and the rest is 23.0 million Class A units of RAC Opco plus 23.0 million shares of Class B Common Stock; Archaea's members receive approximately $347.0 million entirely in Class A units and Class B shares at a value of $10.00 per share, with no cash at all. The $450.0 million cash leg is what redemptions bear on, and the fee table values the combined transaction at $1,027,000,000.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 4/4 resolved vehicles closed a deal (100%); 0 liquidated, 0 terminated. Not gated: measured post-close quality is 52/100, at or above the money-back mark, so the full completion credit is earned.
Strong operator · medium confidence
- Rice Acquisition Corp. · 2020→ Archaea Energy Inc.Completed
- Rice Acquisition Corp. II · 2021→ Net Power Inc.NPWRCompleted
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B3 0001213900-22-026585
Trading & liquidity
Company profile
Directors & officers
- Jackson Kathryn JeanDirector
- Derham KyleDirector
- Torgerson James PDirector
- Parkes ScottDirector
- Malchow Joseph IanDirector
- Rice Daniel J. IVDirector
- Bellah ChadChief Accounting Officer
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
14 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- BP Products North America Inc.29.9% · SC 13DOct 26, 2022 stale
- CIBC Private Wealth Group, LLC9.6% · SC 13G/AJan 7, 2022 stale
- KENSICO CAPITAL MANAGEMENT CORPwith 8 other reporting persons on the same schedule8.4% · SC 13G/AFeb 14, 2023 stale
- Third Point LLCwith 1 other reporting person on the same schedule8.3% · SC 13GFeb 14, 2022 stale
- HITE Hedge Asset Management LLCwith 7 other reporting persons on the same schedule5.5% · SC 13GFeb 18, 2021 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule5.4% · SC 13GDec 27, 2022 stale
- GOLDMAN SACHS & CO. LLC3.8% · SC 13G/AOct 12, 2021 stale
- Merewether Investment Management, LPwith 6 other reporting persons on the same schedule3.0% · SC 13G/AOct 1, 2021 stale
- Hartree Partners, LP0.7% · SC 13G/AFeb 14, 2022 stale
- BAUPOST GROUP LLC/MAwith 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- Shalennial Fund I, L.P.with 6 other reporting persons on the same schedule0.0% · SC 13D/ADec 28, 2022 stale
- Archaea Energy LLCwith 1 other reporting person on the same schedule0.0% · SC 13D/ASep 19, 2022 stale
- Aria Renewable Energy Systems LLCwith 11 other reporting persons on the same schedule0.0% · SC 13D/AMar 28, 2022 stale
- ADAGE CAPITAL PARTNERS GP, L.L.C.with 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 10, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Rice Acquisition Corp. to Combine Aria Energy and Archaea Energy ...
Business Wireundated by the source
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — RICE (Rice Acquisition Corp.)
vault-note · /vault/tickers/RICE
- Vault deal note — Archaea Energy Inc. (RICE)
vault-note · /vault/deals/archaea-energy-inc
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 4932 (Gas & Other Services Combined). The screen found it by filing SHAPE instead — S-1 2020-10-06 → 8-A12B 2020-10-21 → 424B4 2020-10-23 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 4932 + self-described blank check in 424B4 0001213900-20-033072; 424B 0001213900-20-033072 priced 2020-10-23 under S-1 0001213900-20-030317 (file 333-249340, an offering for cash); common ticker RICE off 10-Q 0001213900-21-029395 (2021-05-26); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-249340, which belongs to S-1 0001213900-20-030317 (2020-10-06) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-10-23). Ending PROVEN, not inferred: CLOSED per Form 25 0000876661-22-001206 (2022-12-28) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Class A Common Stock); the successor registrant NET Power Inc. (NPWR, NPWR-WT) (CIK 0001845437) filed an 8-K carrying item 2.01 (Completion of Acquisition) naming "Rice Acquisition Corp." — the SPAC merged into a new registrant and so filed no closing report of its own. EDGAR now files this CIK as "Archaea Energy Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Rice Acquisition Sponsor LLC" (SEC CIK 0001828965) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-032685.
[CLOSED-RENAME] EDGAR CIK 0001823766 records "Rice Acquisition Corp." ending 2021-09-14; the registrant continues as "Archaea Energy Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-09-14. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] minCashM=150, terminationFeeM=114.5 from primary filings (0001213900-21-042041, 0001213900-22-071460).
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
OTHER -> ENERGY, on DEFM14A 0001213900-21-042041: "Archaea was founded in November of 2018 and aims to partner with landfill owners to harness the power of their landfill gas."