# EDGAR Filing Document

**Accession Number:** 0001862068
**File Stem:** 0001829126-23-002341
**Filing Date:** 2023-3
**Character Count:** 28144
**Document Hash:** 59fdbb29fbe06619316d4adb7bcdd146
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-23-002341.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001829126-23-002341

**CONFORMED SUBMISSION TYPE**: S-8 POS

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230328

**EFFECTIVENESS DATE**: 20230329

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rubicon Technologies, Inc.
- **CENTRAL INDEX KEY:** 0001862068
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 883703651
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8 POS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-267947
- **FILM NUMBER:** 23771563

**BUSINESS ADDRESS:**
- **STREET 1:** 100 W MAIN STREET, SUITE 610
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507
- **BUSINESS PHONE:** (844) 479-1507

**MAIL ADDRESS:**
- **STREET 1:** 100 W MAIN STREET, SUITE 610
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Founder SPAC
- **DATE OF NAME CHANGE:** 20210513

**As filed with the Securities and Exchange Commission on March 28, 2023**

**Registration No. 333-267947**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**Post-Effective Amendment No. 1 to**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**RUBICON TECHNOLOGIES, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **88-3703651** |
| (State or Other Jurisdiction of<br> Incorporation or Organization) | (I.R.S. Employer<br> Identification No.) |

---

**100 West Main Street Suite #610**

**Lexington, KY 40507**

(Address of Principal Executive Offices, Zip Code)

**Rubicon Technologies, Inc. 2022 Equity Incentive Plan**

(Full title of the plan)

**Philip Rodoni**

**Chief Executive Officer**

**100 West Main Street Suite #610**

**Lexington, KY 40507**

**(844) 479-1507**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copy to:

**Michael J. Blankenship**

**Winston & Strawn LLP**

**800 Capitol Street, Suite 2400**

**Houston, Texas 77002**

**Telephone: (713) 651-2678**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Post-Effective Amendment No. 1 (this "**<u>Amendment No. 1</u>**") relates to the Registration Statement on Form S-8 (File No. 333-267947) (the "**<u>Registration Statement</u>**") filed with the Securities and Exchange Commission (the "**<u>Commission</u>**") on October 19, 2022, by Rubicon Technologies, Inc. (the "**<u>Company</u>**" or the "**<u>Registrant</u>**"). The Registration Statement registered 31,485,711 shares of the Company's Class A common stock, par value $0.0001 per share (the "**<u>Common Stock</u>**"), to be offered and sold under the Rubicon Technologies, Inc. 2022 Equity Incentive Plan (the "**<u>Plan</u>**"). The Registration Statement on Form S-8 related to (i) 29,000,000 shares of Common Stock authorized to be issued under the Plan and (ii) 2,485,711 shares of Common Stock that may become available for issuance under the Plan as a result of the Plan's evergreen provision.

This Amendment No. 1 is being filed by the Company solely for the purpose of (i) including Cherry Bekaert LLP's consent and report dated March 22, 2023, with respect to the consolidated financial statements of Rubicon Technologies, Inc., which was included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, into the Registration Statement, and (ii) updating "Part II —Information Required in The Registration Statement —Item 3. Incorporation of Documents By Reference" of the Registration Statement to incorporate by reference certain information relating to the Registrant, including the Annual Report on Form 10-K.

This Amendment No. 1 does not update, amend or modify any other information, statements or disclosure contained in the Registration Statement, except as otherwise referenced herein.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS**

**Item 1.** **Plan Information**

The documents containing the information specified in Part I of this Registration Statement will be delivered to employees as specified by Rule 428(b)(1) of the Securities Act of 1033, as amended (the "Securities Act"). In accordance with the instructions of Part I of Form S-8, such documents are not being filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**Item 2.** **Registrant Information and Employee Plan Annual Information**

Not applicable.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3.** **Incorporation of Certain Documents by Reference**

The following documents, which have previously been filed by the Registrant with the Commission pursuant to the Securities Act and pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference herein and shall be deemed to be a part hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Commission on [March 23, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912623002201/rubicontech_10k.htm) ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Registrant's
 Quarterly Reports on Form 10-Q for the fiscal quarter ended March 31, 2022 filed with the Commission on [May 12, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622010707/founderspac_10q.htm) , for the fiscal quarter ended June 30, 2022 filed with the Commission on [August 12, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622015695/founderspac_10q.htm) , and for the fiscal quarter ended September 30, 2022 filed with the Commission on [November 21, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622019405/rubicontechnologies_10q.htm) ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Registrant's
 Current Reports on Form 8-K filed with the Commission on [February 2, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622002599/founderspac_8k.htm) , [April 4, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622007435/founderspac_8k.htm) , [April 12, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622008096/founderspac_8k.htm) , [May 20, 2022,](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622011656/founderspac_8k.htm) [June 7, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622013031/founderspac_8k.htm) , [July 28, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622014712/founderspac_8k.htm) , [August 3, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622015113/founderspac_8k.htm) , [August 5, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622015192/founderspac_8k.htm) , [August 19, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622016045/rubicontech_8k.htm) , [August 23, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622016081/rubicontechno_8k.htm) , [August 30, 2022,](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622016309/rubicontechno_8k.htm) [August 31, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001862068/000182912622016359/rubicontechinc_8k.htm) , [October 14, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622017960/rubicontechnolo_8k.htm) , [November 9, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622019089/rubicontechnolo_8k.htm) , [November 18, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622019365/rubicontech_8k.htm) , [November 25, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622019520/rubicontech_8k.htm) , [December 1, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622019617/rubicontech_8k.htm) , and [December 22, 2022](http://www.sec.gov/ix?doc=/Archives/edgar/data/1862068/000182912622020497/rubicontech_8k.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the description of the
 Registrant's securities contained in the Registrant's Registration Statement on Form 8-A filed with the Commission on [August 15, 2022](http://www.sec.gov/Archives/edgar/data/1862068/000182912622015855/rubicontech_8a12b.htm) , including
 all amendments or reports filed for the purpose of updating such description.

In addition, all documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicate that all securities offered hereby have been sold or which deregister all securities remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Notwithstanding the foregoing, unless specifically stated to the contrary, none of the information that the Registrant discloses under Items 2.02 or 7.01 of any Current Report on Form 8-K that it may from time to time furnish to the Commission will be incorporated by reference into, or otherwise included in, this Registration Statement.

Any statement, including financial statements, contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or therein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4.** **Description of Securities.**

Not applicable.

**Item 5.** **Interests of Named Experts and Counsel.**

Not applicable.

**Item 6.** **Indemnification of Directors and Officers.**

The Registrant's certificate of incorporation and bylaws provide for the indemnification of current and former officers and directors of the Registrant to the fullest extent permitted by Delaware law. The Registrant has entered into agreements with its officers and directors to provide contractual indemnification in addition to the indemnification provided for in the Registrant's certificate of incorporation.

These provisions may discourage stockholders from bringing a lawsuit against the Registrant's directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against officers and directors, even though such an action, if successful, might otherwise benefit the Registrant and its stockholders. Furthermore, a stockholder's investment may be adversely affected to the extent the Registrant pays the costs of settlement and damage awards against officers and directors pursuant to these indemnification provisions.

The Plan also requires the Registrant to indemnify and hold harmless the Compensation Committee of the Registrant's Board of Directors, and each other employee, officer or director of the Registrant to whom any duty or power to administer or interpret the Plan may be allocated, against any expense (including attorneys' fees) or liability arising out of any act or omission to act in connection with the Plan, unless arising out of such person's own fraud or willful bad faith.

**Item 7.** **Exemption from Registration Claimed.**

Not applicable.

**Item 8.** **Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| 4.1\* | [Certificate of Incorporation of Rubicon Technologies, Inc. (incorporated by reference to Exhibit 3.2 of the Registrant's Current Report on Form 8-K filed with the Commission on August 19, 2022).](http://www.sec.gov/Archives/edgar/data/1862068/000182912622016045/rubicontech_ex3-2.htm) |
| 4.2\* | [Bylaws of Rubicon Technologies, Inc. (incorporated by reference to Exhibit 3.3 of the Registrant's Current Report on Form 8-K filed with the Commission on August 19, 2022).](http://www.sec.gov/Archives/edgar/data/1862068/000182912622016045/rubicontech_ex3-3.htm) |
| 5.1\* | [Opinion of Gibson, Dunn & Crutcher LLP.](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex5-1.htm) |
| 5.2\*\*<br>| [Opinion of Winston & Strawn LLP.](rubicontechnologies_ex5-2.htm) |
| 23.1\* | [Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1).](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex5-1.htm) |
| 23.2\* | [Consent of Grant Thornton LLP.](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex23-2.htm) |
| 23.3\* | [Consent of Cherry Bekaert LLP.](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex23-3.htm) |
| 23.4\*\* | [Consent of Cherry Bekaert LLP (with respect to its report to Rubicon Technologies, Inc. consolidated financial statements dated March 22, 2023).](rubicontechnologies_ex23-4.htm) |
| 23.5\*\* | [Consent of Winston & Strawn LLP (included in Exhibit 5.2)](rubicontechnologies_ex5-2.htm) |
| 24.1\* | [Power of Attorney (included on signature page hereto).](#poa) |
| 99.1\* | [Rubicon Technologies, Inc. 2022 Equity Incentive Plan (incorporated by reference to Exhibit 10.4 of the Registrant's Current Report on Form 8-K filed with the Commission on August 19, 2022).](http://www.sec.gov/Archives/edgar/data/1862068/000182912622016045/rubicontech_ex10-4.htm) |
| 99.2\* | [Form of Grant Notice for Restricted Stock Unit Award and Standard Terms and Conditions for Restricted Stock Units (Rollover Form) under the Rubicon Technologies, Inc. 2022 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex99-2.htm) |
| 107.1\* | [Filing Fee Table.](http://www.sec.gov/Archives/edgar/data/1862068/000182912622018092/rubicontechnologies_ex107-1.htm) |

---

\* Previously Filed. <br> \*\* Filed herewith.

**Item 9.** **Undertakings.**

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*provided, however,* that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lexington, State of Kentucky, on March 28, 2023.

---

| | |
|:---|:---|
| **RUBICON TECHNOLOGIES, INC.** | **RUBICON TECHNOLOGIES, INC.** |
| By: | /s/ Philip Rodoni |
| Name: | Philip Rodoni |
| Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Philip Rodoni and Kevin Schubert, and each of them, as the individual's true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution in each of them singly, for him or her and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments, including post-effective amendments, to this Registration Statement, and any registration statement relating to the offering covered by this Registration Statement and filed pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting to the attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that the attorneys-in-fact and agents or any of each of them or their substitutes may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Philip Rodoni | Director and Chief Executive Officer | March 28, 2023 |
| Philip Rodoni | (*Principal Executive Officer*) |  |
| /s/ Kevin Schubert | President and Chief Financial Officer | March 28, 2023 |
| Kevin Schubert | (*President an*d *Principal Financial Officer*) |  |
| /s/ Nathaniel Morris | Director | March 28, 2023 |
| Nathaniel Morris |  |  |
| /s/ Osman Ahmed | Director | March 28, 2023 |
| Osman Ahmed |  |  |
| /s/ Jack Selby | Director | March 28, 2023 |
| Jack Selby |  |  |
| /s/ Ambassador Paula J. Dobriansky | Director | March 28, 2023 |
| Ambassador Paula J. Dobriansky |  |  |
| /s/ Brent Callinicos | Director | March 28, 2023 |
| Brent Callinicos |  |  |
| /s/ Barry Caldwell | Director | March 28, 2023 |
| Barry Caldwell |  |  |
| /s/ Coddy Johnson | Director | March 28, 2023 |
| Coddy Johnson |  |  |
| /s/ Andres Chico | Chairman | March 28, 2023 |
| Andres Chico |  |  |
| /s/ Paula Henderson | Director | March 28, 2023 |
| Paula Henderson |  |  |

---

## Exhibit 5.2

**Exhibit 5.2**

![](ex5-2_001.jpg)

March 28, 2023

Rubicon Technologies, Inc.<br> 100 West Main Street Suite #610<br> Lexington, KY 40507

Re: <u>Form S-8 Registration Statement</u>

Ladies and Gentlemen:

We have acted as counsel to Rubicon Technologies, Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the preparation of the Company's Post-Effective Amendment No. 1 to the registration statement on Form S-8 (File No. 333-267947) to be filed with the U.S. Securities and Exchange Commission (the "<u>Commission</u>") on or about the date hereof (the "<u>Registration Statement</u>"), under the Securities Act of 1933, as amended (the "<u>Securities Act</u>").

The Registration Statement relates to the offer and sale of up to 31,485,711 shares of the Company's Class A common stock, par value $0.0001 per share (the "<u>Shares</u>"), previously registered on the Registration Statement as initially filed with the Commission on October 19, 2022, and comprised of (i) 29,000,000 Shares authorized to be issued under the Rubicon Technologies, Inc. 2022 Equity Incentive Plan (the "<u>Plan</u>"), and (ii) 2,485,711 Shares that may become available for issuance under the Plan as a result of the Plan's evergreen provision.

This opinion letter is being delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Securities Act.

In rendering the opinion set forth below, we examined and relied upon such certificates, corporate records, agreements, instruments and other documents, and examined such matters of law, that we considered necessary or appropriate as a basis for the opinions. In rendering the opinion set forth below, we have examined and are familiar with originals or copies, certified or otherwise identified to our satisfaction, of (i) the amended and restated certificate of incorporation of the Company, as in effect on the date hereof, (ii) the bylaws of the Company, as in effect on the date hereof, (iii) the Registration Statement, (iv) the Plan, (v) resolutions of the board of directors of the Company relating to, among other matters, the approval of the Plan and (vi) such other documents as we have deemed necessary or appropriate as a basis for the opinions set forth below. In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies, the authenticity of the originals of such latter documents, that all parties to such documents had the power, corporate or other, to enter into and perform all obligations thereunder and all such documents have been duly authorized by all requisite action, corporate or other, and duly executed and delivered by all parties thereto. As to any facts material to the opinion expressed herein that we did not independently establish or verify, we have relied upon oral or written statements and representations of officers and other representatives of the Company and others.

---

| | |
|:---|:---|
| ![](ex5-2_002.jpg) | March 28, 2023<br> Page 2 |

---

Based upon the foregoing and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that the Shares have been duly authorized and, when issued by the Company in accordance with the terms and in the manner set forth in the Plan, the Shares will be validly issued, fully paid and non-assessable.

The foregoing opinion is limited to the General Corporation Law of the State of Delaware, as currently in effect. We express no opinion with respect to any other laws, statutes, regulations or ordinances.

We hereby consent to the filing of this opinion letter as Exhibit 5.2 to the Registration Statement. In giving such consent, we do not thereby admit that we are experts within the meaning of the Securities Act or the rules and regulations of the Commission or that this consent is required by Section 7 of the Securities Act.

---

| |
|:---|
| Very truly yours, |
| /s/ Winston & Strawn LLP |

---

## Exhibit 23.4

**Exhibit 23.4**

**Consent of Independent Registered Public Accounting Firm**

We consent to the inclusion in this Post-Effective Amendment No. 1 to the Registration Statement on Form S-8 (Registration No. 333-267947) of Rubicon Technologies, Inc., of our report dated March 22, 2023, with respect to our audits of the consolidated financial statements of Rubicon Technologies, Inc. and subsidiaries as of December 31, 2022 and 2021 and for each of the years in the two-year period ended December 31, 2022.

/s/ Cherry Bekaert LLP

Atlanta, Georgia

March 28, 2023