RAC II is led by Daniel Rice IV and Kyle Derham, former executives of Rice Energy, Inc. (“RICE”) and Rice Midstream Partners (“RMP”). In 2018 and 2019, RICE and RMP merged with EQT Corporation (NYSE: EQT) and EQT’s midstream affiliates for over $10 billion to become the largest U.S. natural gas producer. Rice Acquisition Corp. led a 2021 business combination with Archaea Energy LLC and Aria Energy LLC to create Archaea Energy, Inc. (NYSE: LFG), an industry-leading renewable natural gas platform that BP p.l.c. (NYSE: BP) agreed to acquire for a cash consideration of $4.1 billion in October 2022, generating a 2.6x return on investment for LFG PIPE investors in approximately one year. Daniel Rice currently serves on the board of EQT and Archaea Energy, Inc. The RAC II website is https://ricespac.com/rac-ii/
Company profile
Ticker
RONI, RONI.UN
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
RONI stock data
Latest filings (excl ownership)
425
Business combination disclosure
21 Mar 23
8-K
Regulation FD Disclosure
21 Mar 23
10-K
2022 FY
Annual report
1 Mar 23
425
Business combination disclosure
27 Feb 23
425
Business combination disclosure
27 Jan 23
425
Business combination disclosure
17 Jan 23
425
Business combination disclosure
4 Jan 23
S-4
Registration of securities issued in business combination transactions
22 Dec 22
Latest ownership filings
SC 13G
J. Goldman & Co LP
14 Feb 23
SC 13G
ARISTEIA CAPITAL LLC
14 Feb 23
SC 13G/A
KENSICO CAPITAL MANAGEMENT CORP
14 Feb 23
SC 13G/A
RP Investment Advisors LP
14 Feb 23
SC 13G
RP Investment Advisors LP
22 Jun 22
SC 13G
KENSICO CAPITAL MANAGEMENT CORP
14 Feb 22
SC 13G
Rice Acquisition Sponsor II LLC
11 Feb 22
SC 13G
ADAGE CAPITAL PARTNERS GP, L.L.C.
28 Jun 21
3
Initial statement of insider ownership
15 Jun 21
3
Daniel J. IV Rice
15 Jun 21
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | |
|---|---|---|---|
| Revenue | |||
| Cost of revenue | |||
| Operating income | |||
| Operating margin | |||
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| Change in cash | |||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 1.63 mm | 1.63 mm | 1.63 mm | 1.63 mm | 1.63 mm | 1.63 mm |
| Cash burn (monthly) | 127.22 k | 78.54 k | 1.33 mm | 493.00 k | 6.25 mm | 1.13 mm |
| Cash used (since last report) | 348.20 k | 214.98 k | 3.64 mm | 1.35 mm | 17.10 mm | 3.09 mm |
| Cash remaining | 1.28 mm | 1.41 mm | -2.01 mm | 278.50 k | -15.47 mm | -1.46 mm |
| Runway (months of cash) | 10.1 | 18.0 | -1.5 | 0.6 | -2.5 | -1.3 |
Institutional ownership, Q4 2022
13.2% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 90 |
| Opened positions | 38 |
| Closed positions | 15 |
| Increased positions | 30 |
| Reduced positions | 11 |
| 13F shares | Current |
|---|---|
| Total value | 269.52 bn |
| Total shares | 51.03 mm |
| Total puts | 0.00 |
| Total calls | 481.48 k |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Rice Acquisition Sponsor II | 19.44 mm | $194.38 mm |
| Aristeia Capital | 3.44 mm | $32.33 bn |
| Kensico Capital Management | 3.03 mm | $25.19 bn |
| Adage Capital Partners GP, L.L.C. | 2.85 mm | $26.76 bn |
| Third Point | 2.00 mm | $15.88 bn |
| J. Goldman & Co | 1.66 mm | $16.88 bn |
| Cinctive Capital Management | 1.61 mm | $13.64 bn |
| HITE Hedge Asset Management | 1.22 mm | $10.95 bn |
| Millennium Management | 974.68 k | $9.91 bn |
| Saba Capital Management | 893.64 k | $7.41 bn |