Stock Alert: Rice Acquisition Up 41% On Creation Of New Renewable Natural Gas Company

(RTTNews) - Shares of special purpose acquisition company Rice Acquisition Corp. (RICE) are up 41 percent on Thursday trading on the company announcing a business collaboration with Aria Energy LLC and Archaea Energy LLC to create a Renewable Natural Gas or RNG company.

The combined company will be named Archaea Energy and will have industry experts from Archaea LLC and Aria. Archaea Energy will start trading on the NYSE under the ticker "LFG". The deal is expected to be completed in the third quarter of the year.

The stock is currently trading at $14.28, up $4.18 on the NYSE.

The company's shares have traded between $9.62 and $15.91 during the last 52 weeks.