RMG Acquisition II Stockholders Approve $8B ReNew Power Deal

RMG Acquisition Corp. II

RMG Acquisition II stockholders voted in favor of the proposed business combination with ReNew Power Private. The combined company is valued at $8 billion.

Approximately 88% of the votes were in favor of the merger, the SPAC said in a press release. In an 8-K filing, the SPAC disclosed that 23,613,034 shares were redeemed ahead of the vote. The SPAC raised about $308 million in a December IPO.

Announced in February, terms call for gross cash proceeds of approximately $1.2 billion, including an $855 million PIPE.

RMG II expects to close the business combination Aug. 23. Read more.

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