RMG Acquisition Corp. III (RMGCU) Prices $420M IPO


RMG Acquisition Corp. III (RMGCU) Prices $420M IPO

RMG Acquisition Corp. III announced the pricing of its $420 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “RMGCU” Friday, February 5.

The new company aims to combine with a business that has a large and growing market with an ESG and sustainability focus. RMG III is led by Chairman D. James Carpenter, CEO Robert S. Mancini, President and COO Philip Kassin, and CFO Wesley Sima.

Total SPAC deal count for 2021 year-to-date is now 107 with $31.1 billion in gross proceeds raised. This offering is expected to close on Tuesday, February 9.

BofA Securities Inc. and Barclays Capital Inc. are acting as book-running managers for the offering. Latham & Watkins 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 is acting as trustee.