Rice Acquisition Corp I 3 files to raise $250M via SPAC IPO

Rice Acquisition Corp I 3 files to raise $250M via SPAC IPO

Rice Acquisition Corp I has filed with the U.S. Securities and Exchange Commission (SEC) to raise $250 million through an initial public offering (IPO) of its special purpose acquisition company (SPAC) shares. The SPAC, registered in the Cayman Islands, aims to merge with or acquire a business in the fast-growing sectors of digital assets, Web3, blockchain infrastructure, and fintech [3].

The company plans to sell 25 million shares at $10 each, providing public investors the option to redeem shares if they disagree with the eventual merger. If no acquisition is completed within 24 months, the SPAC will liquidate and return the funds from its trust account [3].

The leadership team brings deep expertise in crypto and finance. Ryan Gentry, formerly of Lightning Labs and Multicoin Capital, will serve as CEO, while James DeAngelis, with financial management experience at Kroll and Verus Analytics, will serve as CFO. The board also includes specialists in crypto infrastructure, energy, and investments—areas seen as vital to scaling digital assets globally [3].

Rice Acquisition Corp I's core investment priorities include wallets, exchanges, and secure asset custody solutions; DeFi platforms and blockchain-based payment systems; asset tokenization and blockchain-native financial services; and infrastructure for Bitcoin, stablecoins, and tokenized assets [3].

This move reflects growing institutional interest in blockchain-backed services as the U.S. market prepares for a new wave of crypto-native public companies. The filing comes amidst a wave of IPO filings, with several companies, including Klarna Group Plc, preparing to go public in September [2].

References:
[1] https://www.ainvest.com/news/otg-acquisition-corp-files-raise-200m-spac-ipo-2508/
[2] https://www.bloomberg.com/news/articles/2025-08-29/klarna-leads-us-ipo-candidates-set-to-kick-off-september-rush
[3] https://coinpaper.com/10800/new-200-m-spac-to-target-crypto-web3-and-blockchain-infrastructure