Rubicon(RBT) - 2022 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2022, the company reported a net loss of $240,071, consisting of $427,311 in operating costs and $187,240 in income earned on investments in the Trust Account[103]. - For the six months ended June 30, 2022, the company had a net loss of $810,422, which included $1,058,869 in operating costs and $248,447 in income from investments in the Trust Account[103]. Capital and Funding - The company completed its Initial Public Offering on October 19, 2021, raising capital totaling $2,603,980 for general working capital purposes[106]. - The company has a promissory note from the Sponsor for up to $300,000 to cover expenses related to the Initial Public Offering, which has not been drawn upon as of June 30, 2022[111]. - The underwriter is entitled to a cash underwriting discount of 2.00% of the gross proceeds from the Initial Public Offering, amounting to $6,325,000, and a deferred fee of 3.50%, totaling $11,068,750, payable upon completion of a Business Combination[114]. Operational Status - The company has not engaged in any operations or generated revenues to date, with expectations to do so only after completing its initial business combination[102]. - As of June 30, 2022, the company had $8,999 in its operating bank account and working capital of $271,333[104]. - The company has not engaged in any hedging activities since inception and does not expect to do so in the future[125]. Investment Strategy - The net proceeds from the Initial Public Offering will be invested in U.S. government securities or money market funds, minimizing exposure to interest rate risk[124]. - All 31,625,000 Class A ordinary shares sold in the Initial Public Offering contain a redemption feature, requiring classification outside of permanent equity[118].