RMG Acquisition Corp, a purpose-formed merger company headquartered in New York, announced this week the closure of its initial public offering, which began on February 4, 2019 and ended this Tuesday. The offering was priced at US$10 per share of Class A common stock (plus one-third of one warrant, with each whole warrant enabling the holder thereof to purchase one whole share of Class A common stock at a price of $11.50 per share) and a total of 20mn shares were offered. At the end of RMG’s IPO, the company has announced the receipt of gross proceeds totalling $200mn.
The units were traded on the New York Stock Exchange under the designated ticker symbol RMG.U. Once shares of Class A common stock and warrants begin separate trading, they are expected to be listed on the NYSE under the symbols “RMG” and “RMG.WS,” respectively.
RMG Acquisition Corp, led by James Carpenter, Robert Mancini and Philip Kassin, was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the diversified resources and industrial materials sectors.
Deutsche Bank Securities served as the sole bookrunner for the offering and Stifel served as the lead manager for the offering.