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Below are the latest news stories about RMG Acquisition Corp that investors may wish to consider to help them evaluate RMG as an investment opportunity.
RMG Acquisition announced that 99.8% of its shareholders approved its merger with Romeo Systems at an extraordinary meeting on Dec. 28. Shares gained 5.2% in pre-market trading on Tuesday. The deal, which was announced by RMG (RMG) on Oct. 5, is expected to close by December 29. The combined company will be renamed Romeo Power and will trade on the NYSE under the ticker symbol “RMO”. Romeo Power is an energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles. RMG had $394 million in its trust account prior to the merger, including $160 million raised from private placements. On Dec.
RMG Acquisition (RMG) announces business combination between RMG and Romeo Systems.RMG will have approximately $394M in its trust account prior to the business combination, which amount includes $160M received in the private placement, which has been approved by stockholders and is expected to occur concurrently with the closing of the business combination.Closing...
RMG Acquisition Corp. Announces Stockholder Approval of Business Combination with Romeo Systems, Inc. with No Redemptions
NEW YORK--(BUSINESS WIRE)--RMG Acquisition Corp. (“RMG”) today announced the results for the five proposals considered and voted upon by its stockholders at its Special Meeting on December 28, 2020. RMG reported that all of the various proposals giving effect to the previously announced business combination between RMG and Romeo Systems, Inc. (“Romeo Power”) were approved by approximately 99.8% of the shares of RMG voted at the special meeting. A Form 8-K disclosing the full voting results will
RMG Acquisition Corp. ("RMG") announced that the virtual stockholder meeting to approve the proposed transaction between RMG and Romeo Systems, Inc., a Delaware corporation ("Romeo Power") has been set for Monday, December 28, 2020 at 10:00 a.m., Eastern Time. Holders of record of RMG common stock at the close of business on December 1, 2020 will be entitled to vote at the virtual meeting to approve the proposed transaction and may cast their vote electronically by visiting https://web.lumiagm.com/233514185. If you hold your shares through a bank or broker then you should reach out to your bank or broker for assistance in voting your shares.
RMG Acquisition Corp. Announces the Nomination of Paul Williams to Serve on the Board of Directors of Romeo Power upon Consummation of Merger
RMG Acquisition Corp. (the "Company") announced the nomination of Paul Williams for election at a special meeting of stockholders of the Company to serve on the board of directors of the combined company upon consummation of the previously announced merger between the Company and Romeo Systems, Inc. ("Romeo Power").
Romeo Systems, Inc. ("Romeo Power"), a leader in designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles, has secured another large production contract with a commercial vehicle leader. Romeo Power announced today that it has secured a multi-year production contract with The Lion Electric Co. ("Lion Electric"), a leading OEM in North American electric commercial transportation. The contract is expected to generate $234 million in revenue for Romeo Power over a five-year period beginning in 2021. The contract spans across Lion Electric’s fleet of all-electric class 6-8 commercial urban trucks and all-electric buses.
Romeo Power, the manufacturer of advanced battery packs with high energy density for electric vehicles, has released a family of battery packs that range in size from 30kWh to 1 MWh to serve the commercial vehicle market. Romeo's technology has solved the problem of quickly getting electric commercial trucks and buses the battery configurations needed to accelerate their move to full electric. Romeo Power has proprietary IP that enables battery packs to serve multiple markets no matter the size of the motor, which means they can serve a wider customer base, faster.