Rubicon Technologies, Inc. announced a private placement that it will issue convertible preferred stock to new investor, Rodina Capital AD for the aggregate gross proceeds of $94,200,000 on May 7, 2024. The transaction includes up-front cash and an earnout consideration of $74.2 million payable in 2024 and a $20 million issuance of convertible preferred stock. The transaction has been approved by an independent special committee of company?s Board of Directors.