India-based ReNew Energy Global filed a preliminary proxy on Form F-4 outlining its merger agreement with RMG Acquisition II.
At the time of announcement in February, the companies valued the transaction at $8 billion.
The transaction includes a fully committed, upsized $855 million PIPE from investors that include BlackRock, BNP Paribas Energy Transition Fund, Chamath Palihapitiya, Sylebra Capital, TT International Asset Management, TT Environmental Solutions Fund and Zimmer Partners, as well as $345 million of gross cash held in trust by RMG.
ReNew is expected to receive approximately $610 million in net proceeds. Existing ReNew shareholders will hold approximately 70 percent of the combined company. Read more.
