RMG Acquisition Corp. (RMG) Shareholders Approve Romeo Power Deal

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RMG Acquisition Corp. (RMG) Shareholders Approve Romeo Power Deal

Dec 28, 2020 INTEL by Kristi Marvin

RMG Acquisition Corp. (NYSE:RMG) announced in a press release that its shareholders approved its combination with Romeo Power, an energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles at a special meeting earlier today. Following closing of the business combination, the combined company will be renamed Romeo Power, Inc. and trade on the New York Stock Exchange under the ticker symbol “RMO.”

Redemption details were not released, but given that the share price was trading today at roughly $32.00 per share (and sometimes quite higher), it’s highly unlikely redemptions would be meaningful, if any at all.

RMG initially announced its $993 million combination with Romeo Power on October 5th. Romeo Power is an energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles.

For a full list of measures on the ballot as well as vote tallies, click HERE.

 

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