RMG Acquisition Corp. II Prices Upsized $300M IPO


RMG Acquisition Corp. II Prices Upsized $300M IPO

Dec 10, 2020 INTEL by Kristi Marvin

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.