RCF Acquisition Corp. (Perception Capital Corp. IV)

RCF Acquisition Corp. (Perception Capital Corp. IV) is a blank-check company (SPAC) that raised $200M in its initial public offering on Nov 12, 2021, listing on New York Stock Exchange. It completed its business combination with Blue Gold Holdings Limited on Jun 25, 2025; the combined company is Blue Gold Limited (BGL). ESG Advisory led the IPO, with Kinross Gold and Placer Dome. White & Case advised the SPAC and Kirkland & Ellis advised the underwriters on the IPO.

Status

Merger completed

IPO date

Nov 12, 2021

IPO size

$200M

IPO exchange

New York Stock Exchange

Target

Blue Gold Holdings Limited

Announced

Jun 14, 2024

Closed

Jun 25, 2025

Combined company

Blue Gold Limited (BGL)

IPO underwriters

ESG Advisory, Kinross Gold, Placer Dome, Barrick Gold, Alio Gold and BHP

SPAC counsel (IPO)

White & Case and Maples and Calder

Underwriters' counsel (IPO)

Kirkland & Ellis