Rice Acquisition 3, a blank check company backed by Rice Investment Group targeting the energy value chain, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The company plans to raise $250 million by offering 25 million units at $10. Each unit contains one share of common stock and one-fourth of a warrant, exercisable at $11.50.
Rice Acquisition 3 is led by CEO and Director Kyle Derham and CFO and CAO James Rogers, who currently serve as Partners at multi-strategy fund Rice Investment Group. Derham and Rogers have previous SPAC experience, most recently serving on the executive team of Rice Acquisition II, which completed its combination with NET Power (NYSE: NPWR; -74% from $10 offer price) in 2023.
The SPAC plans to focus on the upstream oil and gas, power generation, energy infrastructure, and critical metals and minerals subsectors of the broadly defined energy value chain.
The Carnegie, PA-based company was founded in 2025 and plans to list on the NYSE under the symbol KRSP.U. Barclays and Jefferies are the joint bookrunners on the deal.
