RMG Acquisition Corp. II (RMGBU), announced the pricing of their upsized $300 million SPAC IPO this morning and the units are expected to begin trading today, December 10th, under the symbol Nasdaq: RMGBU.
The new company aims to search for a target business across a broad range of industries with enterprise values between $1 billion and $4 billion that have large and growing market opportunities, strong management teams, and a strong focus on ESG and sustainability. The team will be led by D. James Carpenter as Chairman and Director, alongside Robert S. Mancini as Chief Executive Officer and Director. Philip Kassin will be President, Chief Operating Officer and Director, while Wesley Sima will be Chief Financial Officer.
Total SPAC deal count for 2020 year-to-date is now 221 with $75.3 billion in gross proceeds raised. This offering is expected to close on Monday, December 14.
BofA Securities and Barclays are acting as the joint book-running managers for the offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
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Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...