Founder SPAC Merger with Rubicon Technologies

Winston & Strawn LLP represented Founder SPAC (Nasdaq: FOUN), a publicly traded special purpose acquisition company, in the closing of its previously announced merger with Rubicon Technologies, LLC, a certified B-Corporation and innovative software platform that provides smart waste and recycling solutions for businesses and governments worldwide. Rubicon is a leading environmental innovator using its pioneering cloud-based technology and software platform to provide smart waste and recycling solutions for businesses and governments, via its network of more than 8,000 hauling and recycling partners across 20 countries worldwide. The business combination values Rubicon at an implied US$1.7B pro forma enterprise value, at a price of US$10.00 per share. Over 97% of shareholders voted in favor of the transaction, which will result in gross proceeds of approximately US$432M to Rubicon, including a US$111M fully committed PIPE, anchored by Palantir Technologies, the New Zealand Super Fund, and Rodina Capital.