The company provides one of the most used marketplaces for recycling and waste products – a key interest of most Print shops with an environmental focus. Rather than going the traditional route of an initial public offering (IPO), Rubicon decided to go public by way of a special-purpose acquisition company (SPAC), which allows the company to go public by merging with a shell company that is already listed.
The SPAC is expected to generate $432m in investment capital. The company intends to use that cash to fund its growth. Rubicon expects to bring in $736m in revenue next year which will be an increase from the $538m it brought in the year before.
Lexington’s mayor, Linda Gorton, expressed her pride that a company like Rubicon is headquartered in her city. The press statement went on to say:
“The company’s decision to locate here was an important milestone in the growth and development of our tech sector. As recycling and sustainability become more and more critical to our world, the need for Rubicon’s digital solutions for waste and recycling grows.”
Rubicon was established in 2008 and began as a waste broker. The company grew rapidly thanks to an influx of investor capital. It previously had its headquarters in New York before announcing in June this year that it would be relocating its head offices to Lexington.Get a Free Quote for Print