Lexington, Kentucky, July 05, 2022 (GLOBE NEWSWIRE) — Rubicon Technologies, LLC (“Rubicon” or “the Company”), a leading digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that the Company’s Chairman and CEO, Nate Morris, delivered the commencement speech to Kentucky’s Governor’s School for Entrepreneurs (“GSE”) 2022 graduating class on Saturday, July 2, 2022.
The GSE is an anchor in Kentucky’s entrepreneurial landscape, known for developing and enabling the entrepreneurs of tomorrow, and fostering a culture of innovation in the heartland. The school has become a nurturing ground for innovators, helping to build a pipeline of future business leaders in the state. Its doors opened to the first group of young entrepreneurs in 2013, and the school brings teens from across the state into a three-week residential program, immersing them in a creative space and providing them with the tools needed to unleash their entrepreneurial drive for the betterment of Kentucky.
“I believe that the next wave of innovation, and the next generation of great entrepreneurs, will come out of the heartland of America,” said Nate Morris, Chairman and CEO of Rubicon. “The GSE and its graduates prove that the spirit of entrepreneurship is thriving in Kentucky, that big ideas can come from anywhere in our country, and that innovation is not limited to the east and west coasts. It was an honor to speak to this year’s graduating class.”
In his remarks, Mr. Morris discussed his experience founding and building Rubicon into a billion-dollar business, the entrepreneurial mindset, and his firm belief in the bright future of the next generation of innovators to come out of Kentucky and the surrounding regions.
During the residential program, teams of high school students develop a business model, design a prototype, and pitch their startup idea to a large audience and a panel of judges. GSE teaches its students how to capitalize on the opportunities and benefits of taking a business concept from the idea phase all the way to pitching it to potential investors, and how to avoid the pitfalls that come with this process.
“We want our teens to walk away from their experience at GSE with a passion for entrepreneurship that lasts a lifetime,” said Natasha Sams, Executive Director at the Governor’s School for Entrepreneurs. “Nate helps us plant the seeds that will bloom into future businesses and startups. His story is powerful and represents what’s possible in Kentucky as an entrepreneur and as an innovator. GSE is cultivating the next generation of entrepreneurs, and we know Nate’s wisdom and advice will stay with our teens as they work to launch their own ideas. We thank him for his continued support of our mission.”
GSE’s framework inspires creativity, leadership, and innovation by taking students out of their communities and immersing them in a multidimensional and non-traditional learning experience. Most of the GSE business teams develop ideas for mobile apps, software products, or physical products for a number of different industries. GSE fosters its students’ innate entrepreneurial passions for problem solving, with technology solutions focused on Kentucky’s most promising industries at the heart of the experience.
Rubicon is a digital marketplace for waste and recycling, and provider of innovative software-based solutions for businesses and governments worldwide. Creating a new industry standard by using technology to drive environmental innovation, the Company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. Learn more at Rubicon.com.
Rubicon previously announced an agreement for a business combination with Founder SPAC (“Founder”) (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange (“NYSE”) under the new ticker symbol “RBT” early in the third quarter of 2022, subject to customary closing conditions.
About the Governor’s School for Entrepreneurs (GSE)
The Governor’s School for Entrepreneurs (GSE) is a relative newcomer on the list of Kentucky’s Governor’s Schools, having opened to its first group of students in 2013. Since 2013, more than 700 student entrepreneurs have gained vital entrepreneurial skills through the program to use as they enter the workplace or continue into higher education.
GSE alumni have launched more than 30 new businesses, filed multiple patents, and developed new ideas and relationships that sow the seeds for more business formation. Dozens of alumni have chosen to enroll in entrepreneurial programs at Kentucky universities and attribute this decision to the inspiration they received by attending GSE in high school. GSE fosters and empowers the commonwealth’s future business owners and community leaders, giving these teens the support they need to go from high school students to business owners.
Applications for the 2023 Governor’s School for Entrepreneurs will open in November. Parents, educators, entrepreneurs and teens who believe grit, a growth mindset and creativity in problem solving tell as much about a young person as good grades and test scores, can learn more about the GSE at www.KentuckyGSE.com.
About Founder SPAC
Founder SPAC is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Founder is not limited to a particular industry or geographic region, the company focuses on businesses within the technology sector, with a specific focus on the theme of Digital Transformation. Founder is led by CEO Osman Ahmed, CFO Manpreet Singh, and Executive Chairman Hassan Ahmed. The company’s independent directors include Jack Selby, Steve Papa, Allen Salmasi, and Rob Theis. Sponsor and advisor, Nikhil Kalghatgi, leads the company’s advisory board.
Important Information About the Business Combination and Where to Find It
Founder’s shareholders and other interested persons are advised to read, carefully and in their entirety, the preliminary proxy statement/consent solicitation statement/prospectus included in the registration statement on Form S-4 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 1, 2022 (including any amendments or supplements thereto) and, when available, the definitive proxy statement/consent solicitation statement/prospectus, as well as other documents filed with the SEC, as these materials will contain important information about Founder, Rubicon and the other parties to the Merger Agreement (as defined in the Registration Statement), and the Business Combination (as defined in the Registration Statement). After the Registration Statement is declared effective, the definitive proxy statement/consent solicitation statement/prospectus will be mailed to shareholders of Founder as of a record date to be established for voting on the Business Combination and other matters described in the Registration Statement. Founder shareholders will also be able to obtain copies of the proxy statement/consent solicitation statement/prospectus and other documents filed with the SEC that will be incorporated by reference in the proxy statement/consent solicitation statement/prospectus, without charge, once available, at the SEC’s web site at sec.gov, or by directing a request to: Founder SPAC, 11752 Lake Potomac Drive, Potomac, MD, 20854, Attention: Chief Financial Officer, (240) 418-2649.
Participants in the Solicitation
Founder and its directors and executive officers may be deemed participants in the solicitation of proxies from Founder’s shareholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in the Business Combination is contained in the Registration Statement.
Rubicon and its directors and executive officers may also be deemed participants in the solicitation of proxies from the shareholders of Founder in connection with the Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the Business Combination is contained in the Registration Statement.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Founder’s and Rubicon’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Founder’s and Rubicon’s expectations with respect to future performance and anticipated financial impacts of the Business Combination, the satisfaction of the closing conditions to the Business Combination and the timing of the completion of the Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including factors that are outside of Founder’s and Rubicon’s control and that are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against Founder and Rubicon following the announcement of the Merger Agreement and the transactions contemplated therein; (2) the inability to complete the Business Combination, including due to failure to obtain the approval of the shareholders of Founder, approvals or other determinations from certain regulatory authorities, or other conditions to closing in the Merger Agreement; (3) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement or that could otherwise cause the transactions contemplated therein to fail to close; (4) the inability to obtain or maintain the listing of the combined company’s shares on the New York Stock Exchange following the Business Combination; (5) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; (6) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition and the ability of the combined company to grow and manage growth profitably and to retain its key employees; (7) costs related to the Business Combination; (8) changes in applicable laws or regulations; (9) the possibility that Rubicon or the combined company may be adversely affected by other economic, business, and/or competitive factors; (10) the combined company’s ability to raise financing in the future and to comply with restrictive covenants related to long-term indebtedness; (11) the impact of COVID-19 on Rubicon’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties indicated from time to time in the Registration Statement and other documents filed, or to be filed, by Founder with the SEC.
Founder cautions that the foregoing list of factors is not exclusive. Although Founder believes the expectations reflected in these forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements or projections set forth herein will be achieved or that any of the contemplated results of such forward-looking statements or projections will be achieved. There may be additional risks that Founder and Rubicon presently do not know of or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Founder cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither Founder nor Rubicon undertakes any duty to update these forward-looking statements, except as otherwise required by law.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.