Rice Acquisition 3 (KRSP)
Market Price (5/30/2026): $10.37 | Market Cap: $477.0 MilSector: Financials | Industry: Multi-Sector Holdings
Rice Acquisition 3 (KRSP)
Market Price (5/30/2026): $10.37Market Cap: $477.0 MilSector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 10% | Trading close to highsDist 52W High is -4.6%, Dist 3Y High is -4.6% Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -86% | Key risksKRSP key risks include [1] failing to complete a business combination before its mandated liquidation deadline and [2] the potential poor performance of an acquired company, Show more. |
| Low stock price volatilityVol 12M is 10% |
| Trading close to highsDist 52W High is -4.6%, Dist 3Y High is -4.6% |
| Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -86% |
| Key risksKRSP key risks include [1] failing to complete a business combination before its mandated liquidation deadline and [2] the potential poor performance of an acquired company, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Rice Acquisition 3 (KRSP) stock has remained largely at the same level since 1/31/2026 because of the following key factors:
1. Rice Acquisition 3 (KRSP) has remained largely at its initial public offering (IPO) price due to its nature as a Special Purpose Acquisition Company (SPAC) that has not yet announced a definitive business combination.
KRSP is a blank-check company formed to merge with a business in the energy sector. SPACs typically trade around their IPO price, which for KRSP was $10.00 per unit when it completed its offering on October 8, 2025. Until a merger target is identified and a deal is announced, the stock price often reflects the cash held in the trust account, providing a stable floor.
2. The absence of a announced merger target since January 31, 2026, has contributed to the stable stock movement.
As of early May 2026, Rice Acquisition 3 has not publicly announced a specific acquisition target. Without news of a potential de-SPAC transaction, which would introduce the valuation of an operating company, the stock tends to hover near its initial offering price. The company's 52-week trading range of $10.21 to $10.70 reflects this stability, remaining close to the $10.00 IPO price.
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Stock Movement Drivers
Fundamental Drivers
The 0.0% change in KRSP stock from 1/31/2026 to 5/29/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.37 | 10.37 | 0.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | � | 0.0% |
| Net Income Margin (%) | � | � | 0.0% |
| P/E Multiple | � | � | 0.0% |
| Shares Outstanding (Mil) | 46 | 46 | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/29/2026| Return | Correlation | |
|---|---|---|
| KRSP | 0.0% | |
| Market (SPY) | 9.6% | -16.8% |
| Sector (XLF) | -3.0% | -18.2% |
Fundamental Drivers
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Market Drivers
10/31/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| KRSP | ||
| Market (SPY) | 11.5% | -17.6% |
| Sector (XLF) | -0.7% | -12.3% |
Fundamental Drivers
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Market Drivers
4/30/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| KRSP | ||
| Market (SPY) | 38.0% | -17.6% |
| Sector (XLF) | 7.4% | -12.3% |
Fundamental Drivers
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Market Drivers
4/30/2023 to 5/29/2026| Return | Correlation | |
|---|---|---|
| KRSP | ||
| Market (SPY) | 89.0% | -17.6% |
| Sector (XLF) | 63.2% | -12.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KRSP Return | - | - | - | - | -4% | 2% | -3% |
| Peers Return | 50% | 26% | -6% | 11% | 7% | 18% | 150% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| KRSP Win Rate | - | - | - | - | 0% | 60% | |
| Peers Win Rate | 73% | 60% | 52% | 50% | 65% | 68% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| KRSP Max Drawdown | - | - | - | - | - | -4% | |
| Peers Max Drawdown | -17% | -28% | -26% | -16% | -16% | -11% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COP, EOG, NEE, DUK, ENB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
KRSP has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
KRSP has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Rice Acquisition 3 (KRSP)
AI Analysis | Feedback
It's like a focused private equity firm specializing in the energy sector, but instead of managing a portfolio, its sole purpose is to find and acquire one private energy company and bring it to the public stock market.
AI Analysis | Feedback
- Business Combination Facilitation: Rice Acquisition 3's primary function is to facilitate a merger, acquisition, or similar business combination with one or more private operating businesses, bringing them into the public market.
AI Analysis | Feedback
```htmlBased on the provided background, Rice Acquisition 3 (KRSP) is a newly organized blank check company (SPAC). It was formed for the purpose of effecting a business combination and has not yet identified or acquired a target business.
The company explicitly states: "We have generated no operating revenues to date, and we do not expect that we will generate operating revenues until we consummate our initial business combination."
Therefore, Rice Acquisition 3 (KRSP) currently has no major customers.
```AI Analysis | Feedback
nullAI Analysis | Feedback
J. Kyle Derham, Chief Executive Officer and Director
J. Kyle Derham is a Partner at Rice Investment Group, a multi-strategy investment fund. He has extensive prior SPAC experience, having served on the executive team of Rice Acquisition II, which completed its business combination with NET Power (NYSE: NPWR) in 2023.
James Rogers, Chief Financial Officer and Chief Accounting Officer
James Rogers is a Partner at Rice Investment Group. He has prior SPAC experience, serving alongside J. Kyle Derham on the executive team of Rice Acquisition II, which completed its combination with NET Power in 2023.
Anne Cameron, Chief Strategy Officer
Anne Cameron also serves as the Head of Public Investments at Mercuria.
AI Analysis | Feedback
For Rice Acquisition 3 (KRSP), a blank check company, the key risks are primarily related to its structure and current stage of operation.
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Failure to Complete an Initial Business Combination
As a Special Purpose Acquisition Company (SPAC), Rice Acquisition 3's sole purpose is to complete a merger, share exchange, asset acquisition, or similar business combination with one or more entities. The company has not yet identified a target or initiated substantive discussions. If it fails to complete a business combination within the predetermined timeframe (typically two years from its initial public offering), it will be forced to liquidate, returning the funds held in trust to shareholders. This can result in shareholders receiving only their initial investment, or even less, especially if they purchased shares at a premium above the IPO price.
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Lack of Operating History and Dependence on Management's Ability to Identify and Execute an Acquisition
Rice Acquisition 3 currently has no operating business or revenues, and it does not expect to generate any until it consummates an initial business combination. Investors are essentially relying on the expertise and discretion of the management team to identify a suitable target business within the broadly defined energy value chain, and then successfully complete an acquisition. There is no guarantee that the management team will be able to find an attractive target or negotiate a favorable deal, which introduces significant uncertainty and speculative risk.
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Competition for Target Businesses
The company intends to focus its search for a target business in the energy value chain, specifically in areas such as upstream oil and gas, power generation, energy infrastructure, and critical metals and minerals. This sector can be highly competitive, with other SPACs, private equity firms, and strategic buyers also vying for attractive acquisition targets. This competition could make it more challenging for Rice Acquisition 3 to identify and secure a desirable business combination, potentially driving up acquisition costs or forcing the company to consider less favorable opportunities.
AI Analysis | Feedback
nullAI Analysis | Feedback
nullAI Analysis | Feedback
The expected drivers of future revenue growth for Rice Acquisition 3 (KRSP) over the next 2-3 years are:
- Successful completion of an initial business combination with an operating company within the broadly defined energy value chain, such as upstream oil and gas, power generation, energy infrastructure, or critical metals and minerals. This initial acquisition is the foundational driver for KRSP to generate any operating revenue.
- Organic growth of the acquired business through operational improvements, asset optimization, and increased production or service delivery, leveraging the management team's extensive operational experience and hands-on ownership approach.
- Expansion into new geographical markets or customer segments within the energy value chain by the acquired entity, thereby broadening its revenue base.
- Strategic bolt-on acquisitions or partnerships by the combined entity, enabling it to expand its asset portfolio, enhance its service offerings, or increase its market share within its target energy sub-sectors.
- Favorable market conditions, including positive trends in commodity prices (e.g., oil, natural gas, critical metals) or increased demand for energy infrastructure and services, which would directly boost the revenue of the acquired energy business.
AI Analysis | Feedback
Share Issuance
- Rice Acquisition 3 priced its initial public offering (IPO) on September 30, 2025, issuing 30 million units at $10.00 per unit.
- The IPO raised $300 million, with the offering closing on October 2, 2025.
Inbound Investments
- The company raised $300 million from its initial public offering in October 2025, with proceeds held in trust for a future business combination.
- Rice Acquisition 3 is backed by affiliates of Rice Investment Group and Mercuria.
Trade Ideas
Select ideas related to KRSP.
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 100.50 |
| Mkt Cap | 107.5 |
| Rev LTM | 33,166 |
| Op Inc LTM | 8,581 |
| FCF LTM | 2,363 |
| FCF 3Y Avg | 4,689 |
| CFO LTM | 11,665 |
| CFO 3Y Avg | 12,516 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.2% |
| Rev Chg 3Y Avg | 4.3% |
| Rev Chg Q | 11.3% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Inc Chg LTM | 2.6% |
| Op Inc Chg 3Y Avg | 3.2% |
| Op Mgn LTM | 25.9% |
| Op Mgn 3Y Avg | 25.9% |
| QoQ Delta Op Mgn LTM | -1.2% |
| CFO/Rev LTM | 35.2% |
| CFO/Rev 3Y Avg | 37.0% |
| FCF/Rev LTM | 8.5% |
| FCF/Rev 3Y Avg | 12.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 107.5 |
| P/S | 2.9 |
| P/Op Inc | 11.1 |
| P/EBIT | 9.8 |
| P/E | 18.6 |
| P/CFO | 8.2 |
| Total Yield | 8.1% |
| Dividend Yield | 2.8% |
| FCF Yield 3Y Avg | 5.2% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.1% |
| 3M Rtn | 0.8% |
| 6M Rtn | 8.3% |
| 12M Rtn | 25.9% |
| 3Y Rtn | 33.0% |
| 1M Excs Rtn | -9.4% |
| 3M Excs Rtn | -9.3% |
| 6M Excs Rtn | -1.3% |
| 12M Excs Rtn | -2.8% |
| 3Y Excs Rtn | -53.5% |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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