RMG Acquisition II set an Aug. 16 meeting for stockholders to vote on the proposed merger with ReNew Power, a renewable energy company based in India. The SPAC also filed an S-4 outlining the deal.
Announced in February, terms call for gross cash proceeds of approximately $1.2 billion, comprised of $855 million from a PIPE and approximately $345 million of cash held in trust by RMG II, before any adjustments due to potential redemptions. The PIPE was anchored by institutional investors including funds and accounts managed by BlackRock, BNP Paribas Energy Transition Fund, Chamath Palihapitiya, Sylebra Capital, TT International Asset Management, TT Environmental Solutions Fund and Zimmer Partners. Read more.
