RBio Energy Corporation entered into a definitive business combination agreement to acquire Perception Capital Corp. III for $350 million in a reverse merger transaction.

RBio Energy Corporation entered into a definitive business combination agreement to acquire Perception Capital Corp. III (NasdaqCM:PFTA) for $350 million in a reverse merger transaction on February 6, 2024. Under the terms of the business combination agreement, the holders of the outstanding shares of RBio Energy will receive equity in Perception valued at approximately $350 million, subject to adjustments.

RBio Energy is anticipated to list its securities on the Nasdaq Stock Market. The transaction is subject to customary closing conditions, including receipt of all regulatory approvals, as well as the approval of the proposed transaction by Perception?s shareholders and the consummation of the Transaction under the HSR Act. The boards of directors of both RBio Energy and Perception have unanimously approved the proposed transaction.

The closing of the transaction is anticipated to occur in the second quarter of 2024. Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC acted as financial advisor and Greenberg Traurig LLP acted as legal advisor to Perception.