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Rice Acquisition Corp. II - RONI

  • Commons

    $10.40

    +1.96%

    RONI Vol: 5.6K

  • Warrants

    $1.62

    -2.99%

    RONI+ Vol: 38.0

  • Units

    $11.04

    +4.48%

    RONI= Vol: 800.0

Average: 4
Rating Count: 1
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SPAC Stats

Market Cap: 358.8M
Average Volume: 84.1K
52W Range: $9.69 - $10.75
Weekly %: +2.06%
Monthly %: +4.63%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 165
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-fourth of one redeemable warrant
Trust Size: 25000000.0M

Management

Our officers, directors and director nominees are as follows: Name Age Position Daniel Joseph Rice, IV 40 Chief Executive Officer and Director J. Kyle Derham 33 Chief Financial Officer and Director Nominee James Wilmot Rogers 40 Chief Accounting Officer Independent Director Nominee Independent Director Nominee Independent Director Nominee Daniel Joseph Rice, IV — Chief Executive Officer and director. Mr. Rice has over 15 years of experience in the energy industry. Mr. Rice is also the Chief Executive Officer and a director of Rice I. Mr. Rice is a Partner of Rice Investment Group and served as Chief Executive Officer of Rice Energy from October 2013 through the completion of its acquisition by EQT in November 2017. Prior to his role as Chief Executive Officer, Mr. Rice served as Chief Operating Officer of Rice Energy from October 2012 through September 2013 and as Vice President and Chief Financial Officer of Rice Energy from October 2008 through September 2012. Mr. Rice oversaw Rice Energy’s growth from start-up through its $1 billion initial public offering in 2014 and eventual $8.2 billion sale to EQT in 2017. Mr. Rice also oversaw the creation and growth of Rice Midstream, which was acquired by EQM for $2.4 billion in 2018. Mr. Rice established Rice Energy’s strategic framework for value creation, which yielded success for its shareholders and employees. He has utilized his operating and growth strategy formulation experience as the founder of Rice Energy to help portfolio companies of Rice Investment Group to refine and optimize their business strategies in order to profitably grow. Mr. Rice currently serves on the board of directors of EQT, and he joined the board of Whiting Petroleum in August 2020. Prior to joining Rice Energy, he was an investment banker for Tudor Pickering Holt & Co. in Houston and held finance and strategic roles with Transocean Ltd. and Tyco International plc. J. Kyle Derham — Chief Financial Officer and director nominee. Mr. Derham is a Partner of Rice Investment Group. Mr. Derham is also the President, Chief Financial Officer and a director of Rice I. Mr. Derham, as part of the Rice Team, led the shareholder campaign in 2019 to revamp the strategic direction of EQT and elect a majority slate of director candidates to the board of EQT, the largest operator of natural gas production in the United States. Following the campaign, Mr. Derham served as interim Chief Financial Officer of EQT and currently serves as a strategic advisor to the company. Mr. Derham previously served as Vice President, Corporate Development and Finance of Rice Energy and Rice Midstream from January 2014 through November 2017. Through his various roles working alongside the Rice family, Mr. Derham has focused on evaluating, structuring and negotiating key acquisitions and execution of critical strategic initiatives to generate attractive risk adjusted returns for investors. Mr. Derham also has experience as a private equity investor, working as an associate at First Reserve and as an investment banker at Barclays Investment Bank. James Wilmot Rogers — Chief Accounting Officer. Mr. Rogers served as Senior Vice Present and Chief Accounting Officer & Administrative Officer, Treasurer of Rice Energy from April 2011 through November 2017. Mr. Rogers is also the Chief Accounting Officer of Rice I. Mr. Rogers led accounting, tax and human resources functions for Rice Energy, Rice Midstream and its numerous joint ventures and joint venture companies. Mr. Rogers oversaw such functions through two initial public offerings in a single calendar year (Rice Energy in January 2014 and Rice Midstream in December 2014) and through numerous asset and corporate level acquisitions totaling more than $10 billion in asset value. He also has numerous years in public accounting experience, having worked at both Ernst & Young and PricewaterhouseCoopers. Number and Terms of Office of Officers and Directors Our board of directors is divided into three classes, with only one class of directors being elected in each year, and with each class (except for those directors appointed prior to our first annual meeting of shareholders) serving a three-year term. In accordance with the NYSE corporate governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year end following our listing on the NYSE. The 118 Table of Contents term of office of the first class of directors, consisting of and , will expire at our first annual meeting of shareholders. The term of office of the second class of directors, consisting of and , will expire at our second annual meeting of shareholders. The term of office of the third class of directors, consisting of and , will expire at our third annual meeting of shareholders. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a majority of our founder units. In addition, prior to the completion of an initial business combination, holders of a majority of our founder units may remove a member of the board of directors for any reason. Pursuant to an agreement to be entered into on or prior to the closing of this offering, our sponsor, upon and following consummation of an initial business combination, will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Our amended and restated memorandum and articles of association will provide that our officers may consist of one or more chairman of the board, chief executive officer, president, chief financial officer, vice presidents, secretary, treasurer and such other offices as may be determined by the board of directors. Director Independence The NYSE listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person who has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Our board of directors has determined that , , and are “independent directors” as defined in the NYSE listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Executive Officer and Director Compensation None of our executive officers or directors have received any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on the NYSE through the earlier of consummation of our initial business combination and our liquidation, we will reimburse our sponsor or an affiliate of our sponsor for office space, secretarial and administrative services provided to us in the amount of $10,000 per month. In addition, our sponsor, executive officers, directors or their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made by us to our sponsor, executive officers, directors or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust account. Other than quarterly audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind, including finder’s and consulting fees, will be paid by the company to our sponsor, executive officers and directors, or their respective affiliates, prior to completion of our initial business combination. After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or tender offer materials furnished to our shareholders in connection with a proposed business combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed business combination, because the directors of the post-combination business will be responsible for determining executive officer and 119 Table of Contents director compensation. Any compensation to be paid to our executive officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our executive officers and directors that provide for benefits upon termination of employment. Committees of the Board of Directors Upon the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will have three standing committees: an audit committee, a nominating committee and a compensation committee. Subject to phase-in rules and a limited exception, the rules of the NYSE and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Subject to phase-in rules and a limited exception, the rules of the NYSE require that the compensation committee and the nominating committee of a listed company be comprised solely of independent directors. Audit Committee Upon the effectiveness of the registration statement of which this prospectus forms a part, we will establish an audit committee of the board of directors. , and will serve on our audit committee. Our board of directors has determined that , and are independent under the NYSE listing standards and applicable SEC rules. will serve as the Chairman of the audit committee. Under the NYSE listing standards and applicable SEC rules, all the directors on the audit committee must be independent. Each member of the audit committee is financially literate and our board of directors has determined that qualifies as an “audit committee financial expert” as defined in applicable SEC rules. The audit committee is responsible for: • meeting with our independent registered public accounting firm regarding, among other issues, audits, and adequacy of our accounting and control systems; • monitoring the independence of the independent registered public accounting firm; • verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law; • inquiring and discussing with management our compliance with applicable laws and regulations; • pre-approving all audit services and permitted non-audit services to be performed by our independent registered public accounting firm, including the fees and terms of the services to be performed; • appointing or replacing the independent registered public accounting firm; • determining the compensation and oversight of the work of the independent registered public accounting firm (including resolution of disagreements between management and the independent registered public accounting firm regarding financial reporting) for the purpose of preparing or issuing an audit report or related work; • establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies; 120 Table of Contents • monitoring compliance on a quarterly basis with the terms of this offering and, if any noncompliance is identified, immediately taking all action necessary to rectify such noncompliance or otherwise causing compliance with the terms of this offering; and • reviewing and approving all payments made to our existing shareholders, executive officers or directors and their respective affiliates. Any payments made to members of our audit committee will be reviewed and approved by our board of directors, with the interested director or directors abstaining from such review and approval. Nominating Committee Upon the effectiveness of the registration statement of which this prospectus forms a part, we will establish a nominating committee of our board of directors. The members of our nominating committee will be , and , and will serve as chairman of the nominating committee. Under the NYSE listing standards, we are required to have a nominating committee composed entirely of independent directors. Our board of directors has determined that , and are independent under the NYSE listing standards. The nominating committee is responsible for overseeing the selection of persons to be nominated to serve on our board of directors. The nominating committee considers persons identified by its members, management, shareholders, investment bankers and others. Guidelines for Selecting Director Nominees The guidelines for selecting nominees, which will be specified in a charter to be adopted by us, generally will provide that persons to be nominated: • should have demonstrated notable or significant achievements in business, education or public service; • should possess the requisite intelligence, education and experience to make a significant contribution to the board of directors and bring a range of skills, diverse perspectives and backgrounds to its deliberations; and • should have the highest ethical standards, a strong sense of professionalism and intense dedication to serving the interests of the shareholders. The nominating committee will consider a number of qualifications relating to management and leadership experience, background and integrity and professionalism in evaluating a person’s candidacy for membership on the board of directors. The nominating committee may require certain skills or attributes, such as financial or accounting experience, to meet specific board needs that arise from time to time and will also consider the overall experience and makeup of its members to obtain a broad and diverse mix of board members. The nominating committee does not distinguish among nominees recommended by shareholders and other persons. Compensation Committee Upon the effectiveness of the registration statement of which this prospectus forms a part, we will establish a compensation committee of our board of directors. The members of our compensation committee will be , and , and will serve as chairman of the compensation committee. Under the NYSE listing standards, we are required to have a compensation committee composed entirely of independent directors. Our board of directors has determined that , and are independent under the NYSE listing standards. We will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including: • reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s and Chief Financial Officer’s and Chief Accounting Officer’s, evaluating our Chief Executive Officer’s and Chief Financial Officer’s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer and Chief Financial Officer based on such evaluation; 121 Table of Contents • reviewing and approving the compensation of all of our other Section 16 officers; • reviewing our executive compensation policies and plans; • implementing and administering our incentive compensation equity-based remuneration plans; • assisting management in complying with our proxy statement and annual report disclosure requirements; • approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and employees; • producing a report on executive compensation to be included in our annual proxy statement; and • reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors. The charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by the NYSE and the SEC. Compensation Committee Interlocks and Insider Participation None of our executive officers currently serves, and in the past year has not served, as a member of the compensation committee of any entity that has one or more executive officers serving on our board of directors. Code of Ethics Upon the effectiveness of the registration statement of which this prospectus forms a part, we will have adopted a Code of Ethics applicable to our directors, officers and employees. A copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. Conflicts of Interest Under Cayman Islands law, directors and officers owe the following fiduciary duties: • duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; • duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; • directors should not improperly fett

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-15 Highbridge Capital Management LLC 69,322 $690,000 0.0% -82.7% 0.057%
2021-11-15 HighTower Advisors LLC 487,776 $4,840,000 0.0% +16.0% 0.404%
2021-11-10 Commonwealth of Pennsylvania Public School Empls Retrmt SYS 50,000 $500,000 0.0% 0 0.041%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q QUARTERLY REPORT 2021-11-12 https://www.sec.gov/Archives/edgar/data/1845437/000121390021058427/f10q0921_riceacquis2.htm
10-Q 10-Q 2021-08-12 https://www.sec.gov/Archives/edgar/data/1845437/000121390021042032/f10q0621_riceacq2.htm
8-K CURRENT REPORT 2021-08-06 https://www.sec.gov/Archives/edgar/data/1845437/000121390021040662/ea145257-8k_riceacq2.htm
10-Q QUARTERLY REPORT 2021-07-30 https://www.sec.gov/Archives/edgar/data/1845437/000121390021039563/f10q0321_riceacquis2.htm
SC 13G RICE ACQUISITION CORP. II 2021-06-28 https://www.sec.gov/Archives/edgar/data/1845437/000090266421003295/p21-1683sc13g.htm
8-K CURRENT REPORT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1845437/000121390021033967/ea143204-8k_riceacqcorp2.htm
8-K CURRENT REPORT 2021-06-21 https://www.sec.gov/Archives/edgar/data/1845437/000121390021033291/ea142913-8k_riceacq2.htm
424B4 PROSPECTUS 2021-06-17 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032979/f424b40621_riceacqcorp2.htm
EFFECT 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/999999999521002341/xslEFFECTX01/primary_doc.xml
S-1MEF REGISTRATION STATEMENT 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032620/ea142791-s1mef_riceacq2.htm
3 OWNERSHIP DOCUMENT 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032617/xslF345X02/ownership.xml
3 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032616/xslF345X02/ownership.xml
3 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032615/xslF345X02/ownership.xml
3 OWNERSHIP DOCUMENT 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032545/xslF345X02/ownership.xml
3 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032542/xslF345X02/ownership.xml
3 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032540/xslF345X02/ownership.xml
3 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032538/xslF345X02/ownership.xml
CERT NYSE CERTIFICATION 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000087666121000878/RONI061521.pdf
8-A12B FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES 2021-06-15 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032418/ea142732-8a12b_rac2.htm
CORRESP 2021-06-11 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032067/filename1.htm
CORRESP 2021-06-11 https://www.sec.gov/Archives/edgar/data/1845437/000121390021032066/filename1.htm
S-1/A REGISTRATION STATEMENT 2021-06-09 https://www.sec.gov/Archives/edgar/data/1845437/000121390021031651/fs120201a4_riceacqcorp2.htm
S-1/A REGISTRATION STATEMENT 2021-06-03 https://www.sec.gov/Archives/edgar/data/1845437/000121390021030767/fs12021a3_riceacquisition2.htm
CORRESP 2021-05-21 https://www.sec.gov/Archives/edgar/data/1845437/000121390021028292/filename1.htm
S-1/A REGISTRATION STATEMENT 2021-05-21 https://www.sec.gov/Archives/edgar/data/1845437/000121390021028291/fs12021a2_riceacqcorp2.htm
UPLOAD 2021-05-17 https://www.sec.gov/Archives/edgar/data/1845437/000000000021006203/filename1.pdf
CORRESP 2021-05-06 https://www.sec.gov/Archives/edgar/data/1845437/000121390021024874/filename1.htm
S-1/A REGISTRATION STATEMENT 2021-05-06 https://www.sec.gov/Archives/edgar/data/1845437/000121390021024873/fs12021a1_riceacquisition2.htm
UPLOAD 2021-04-07 https://www.sec.gov/Archives/edgar/data/1845437/000000000021004153/filename1.pdf
S-1 REGISTRATION STATEMENT 2021-03-10 https://www.sec.gov/Archives/edgar/data/1845437/000121390021014553/fs12021_riceacquisition2.htm