SPAC Wrap: RICE stock takes off, TWCT is muted on Deal Announcements. IPOs Take a Rest Day RICE surged over 50% on its Renewable Gas M&A deal, while True Wind Capital's deal with Cellebrite was greeted with a much more muted reaction from the market Author: Apr 8, 2021 While M&A pops had returned a bit, it's been awhile since we've seen a massive rally on a SPAC name after announcing an M&A deal, which is exactly what happened today with Rice Acquisition Corp (RICE) up 52%. Rice is combining Aria Energy and Archaea Energy and taking them public in a $1.15 billion merger. That will make the combined company into a leading renewable natural gas platform.