RMG Acquisition III priced its IPO of 42 million units at $10 each.
Units list on the Nasdaq and begin trading today under RMGCU. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable.
Once the securities comprising the units begin separate trading, the shares and redeemable warrants will list on the Nasdaq under RMGC and RMGCW, respectively. The offering is expected to close Feb. 9.
RMG III has not identified a specific sector to target, but in the filing noted it will concentrate on companies with enterprise values between $1 billion and $4 billion. Read more.
