Rice Acquisition Corp. 3
Rice Acquisition Corp. 3 is a publicly listed Delaware SPAC that raised $300 million in its September 2025 NYSE IPO to acquire a private company in the energy value chain, co-sponsored by Rice Investment Group and Mercuria Energy Group with a $100 million forward purchase agreement.
- Company typePublic
- Founded2025
- HeadquartersCarnegie, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Rice Acquisition Corp. 3 does
Rice Acquisition Corp. 3 (RAC III) is a special-purpose acquisition company incorporated in Delaware and listed on the NYSE under the KRSP.U ticker. It completed its initial public offering on September 30, 2025, raising $300 million at $10.00 per unit, with Barclays and Jefferies serving as joint bookrunners. The company was formed to effect a business combination with a private operating company in the energy value chain, with stated emphasis on upstream oil and gas and energy infrastructure, a broader mandate than the renewable natural gas focus of RAC I or the clean power focus of RAC II. The entity is co-sponsored by Rice Investment Group, L.P. and Mercuria Energy Group, which together provide a $100 million forward purchase agreement split equally between the two sponsors.
RAC III has no standalone technology product. Its only "product" is the SPAC vehicle itself, meaning the company does not sell software, services, or hardware, does not have a pricing model, and has no customer base prior to closing a business combination. The business model is to hold IPO proceeds and forward purchase capital in trust, identify and negotiate a merger with an energy-sector target within the SPAC's defined deal window, and deliver post-merger value to public shareholders (who retain redemption rights). Revenue, if any, will be recognized only after the acquired target's operating financials are consolidated. Headcount is small (1-10 employees) and the operating team consists of a lean deal-making and finance function.
The company is led by J. Kyle Derham (CEO), Anne Cameron (Chief Strategy Officer, also Head of Public Investments at Mercuria), and James Rogers (CFO and Chief Accounting Officer), supported by a director bench that includes Mercuria's Global CIO Brian Falik, former Westinghouse CTO Dr. Kate Jackson, former El Paso Corporation CFO Mark Leland, and Mercuria senior advisor David Savett. The leadership team carries direct prior SPAC execution experience from RAC I (merged with Archaea Energy and Aria Energy in September 2021, ~$530M in proceeds) and RAC II (merged with NET Power in June 2023, ~$675M in proceeds). Archaea Energy was subsequently acquired by bp for approximately $4.1 billion in October 2022, providing a precedent exit for the Rice SPAC platform.
Rice Acquisition Corp. 3 firmographics
Firmographics- Name
- Rice Acquisition Corp. 3
- Legal name
- Rice Acquisition Corporation
- Website
- https://ricespac.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Ipo
- Headcount range
- 1–10 employees
- Short description
- Rice Acquisition Corp. 3 is a publicly listed Delaware SPAC that raised $300 million in its September 2025 NYSE IPO to acquire a private company in the energy value chain, co-sponsored by Rice Investment Group and Mercuria Energy Group with a $100 million forward purchase agreement.
- Ownership category
- akta.pro rank
Rice Acquisition Corp. 3 industry classification
Industry- Product category
- Special Purpose Acquisition Company (SPAC)
- NAICS
- Securities and Commodity Exchanges (5232)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)
Keywords
Where Rice Acquisition Corp. 3 is headquartered
LocationHeadquarters
- HQ city
- Carnegie
- HQ country
- United States
- HQ region
- North America
Markets served
Rice Acquisition Corp. 3 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
Revenue model
- SPAC IPO Proceeds: Rice Acquisition Corp. 3 raised $300 million through its IPO. The company will use these proceeds, along with a $100 million forward purchase agreement from sponsors, to acquire a target company in the energy sector through a business combination. Revenue is generated through the appreciation of the acquired company's value post-merger.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Rice Acquisition Corp. 3 product offering
Product offeringCore offering
Rice Acquisition Corp. 3 (RAC III) is a blank check company (Special Purpose Acquisition Company/SPAC) that raised $300 million through an IPO on the NYSE to effect a business combination with a target company in the energy value chain, including upstream oil and gas and energy infrastructure. The SPAC is co-sponsored by Rice Investment Group and Mercuria Energy Group, with a unique $100 million forward purchase agreement funded by both sponsors.
Product overview
Rice Acquisition Corp. 3 (RAC III) is a single Special Purpose Acquisition Company (SPAC) focused on acquiring or merging with a company in the energy sector. It operates as a financial vehicle with no standalone technology product. RAC III is the third SPAC sponsored by the Rice Investment Group team, following RAC I (which merged with Archaea Energy and Aria Energy to create a renewable natural gas platform) and RAC II (which merged with NET Power to accelerate clean natural gas power generation). The RAC III SPAC is co-sponsored by Mercuria Energy Group and includes a unique $100 million forward purchase agreement from both sponsors.
Differentiator
Problem solved
Functional benefit
Products and services
- Rice Acquisition Corp. 3 (RAC III) Rice Acquisition Corp. 3 is a blank check company focused on the energy sector. It is sponsored by Rice Investment Group and Mercuria Energy Group, with a $100 million forward purchase agreement. The SPAC targets the energy value chain including upstream oil and gas and energy infrastructure sectors, with the goal of completing a business combination with a target company to take it public.
Companies that use Rice Acquisition Corp. 3
Customer profileSegments1 record
Ideal customer profiles1 record
Rice Acquisition Corp. 3 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Rice Acquisition Corp. 3 partnerships and signals
Strategic signalScale indicators3 records
Recent moves7 records
Expansion highlights5 records
Rice Acquisition Corp. 3 competitors and assessment
Company assessmentDirect peers
- Rice Acquisition Corp. I (RAC I): The first SPAC sponsored by the Rice Investment Group team, focused on the energy sector. RAC I merged with Archaea Energy and Aria Energy in 2021 to create a renewable natural gas platform later acquired by bp. It is the most direct precedent for RAC III in terms of sponsor, sector focus, and structure.
- Rice Acquisition Corp. II (RAC II): The second Rice-sponsored energy SPAC, which merged with NET Power in June 2023 to advance clean natural gas power generation. RAC II shares the same leadership team, sponsor base, and energy sector focus as RAC III, making it a close operational and structural comparable.
- Northern Genesis Acquisition Corp. III: An energy and clean-tech focused SPAC that merged with Li-Cycle. Comparable to RAC III in target sector overlap (energy transition and infrastructure) and in operating as a third energy-focused SPAC from a repeat sponsor team.
- Sustainable Opportunities Acquisition Corp. A SPAC targeting sustainability-focused and energy transition businesses. Similar to RAC III in pursuing energy and infrastructure targets where capital is needed to fund the transition, with comparable NYSE listing and institutional sponsorship.
- Spring Valley Acquisition Corp. An energy and sustainability-focused SPAC that completed a business combination. It is comparable to RAC III in sector focus (energy value chain) and in serving as a public-market vehicle for bringing a private energy company public.
- Crescent Acquisition Corp. A SPAC focused on the energy sector. Comparable to RAC III in targeting energy-related businesses for a business combination and operating with a similar capital-markets-led sponsor structure.
- Tortoise Acquisition Corp. II: An energy infrastructure-focused SPAC sponsored by Tortoise, a long-standing energy investment manager. Highly comparable to RAC III in energy infrastructure focus and in bringing sponsor energy expertise into a public market vehicle.
- Insight Acquisition Corp. A SPAC pursuing a business combination with an energy-related target. Comparable to RAC III as a similarly structured blank-check vehicle focused on the energy sector and listed on a major U.S. exchange.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Rice Acquisition Corp. 3 social profiles
Digital presenceRice Acquisition Corp. 3 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rice Acquisition Corp. 3 leadership team
Management profileNumber of profiles
Profiles7 records
Rice Acquisition Corp. 3 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rice Acquisition Corp. 3 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rice Acquisition Corp. 3
What does Rice Acquisition Corp. 3 do?
Rice Acquisition Corp. 3 (RAC III) is a blank check company (Special Purpose Acquisition Company/SPAC) that raised $300 million through an IPO on the NYSE to effect a business combination with a target company in the energy value chain, including upstream oil and gas and energy infrastructure. The SPAC is co-sponsored by Rice Investment Group and Mercuria Energy Group, with a unique $100 million forward purchase agreement funded by both sponsors.
Is Rice Acquisition Corp. 3 a public or private company?
Rice Acquisition Corp. 3 is a public company. It is classified as public and is currently ipo.
When was Rice Acquisition Corp. 3 founded?
Rice Acquisition Corp. 3 was founded in 2025. It employs 1 to 10 people.
Where is Rice Acquisition Corp. 3 based?
Rice Acquisition Corp. 3 is headquartered in Carnegie, United States, in the North America region.
How does Rice Acquisition Corp. 3 make money?
One revenue line is on record: SPAC IPO Proceeds.
Who are Rice Acquisition Corp. 3's main competitors?
Direct peers on record are Rice Acquisition Corp. I (RAC I), Rice Acquisition Corp. II (RAC II), Northern Genesis Acquisition Corp. III, Sustainable Opportunities Acquisition Corp., Spring Valley Acquisition Corp., Crescent Acquisition Corp., Tortoise Acquisition Corp. II and Insight Acquisition Corp..
Does Rice Acquisition Corp. 3 have an API?
No public API is recorded for Rice Acquisition Corp. 3.
What industry is Rice Acquisition Corp. 3 in?
Rice Acquisition Corp. 3's product category is Special Purpose Acquisition Company (SPAC). Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory). Its NAICS code is 5232 and its SIC code is 6211.