STOCK TITAN

RMG Acquisition Corp. III Announces Cancellation of Dissolution

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
RMG Acquisition Corp. III announced the cancellation of its dissolution, revealing plans to pursue an initial business combination instead. The company had previously intended to dissolve and liquidate but has now decided to continue its operations and seek shareholder approval to extend the termination date. Shareholders do not need to take any action at this time.
RMG Acquisition Corp. III ha annunciato l'annullamento della sua dissoluzione, rivelando invece piani per perseguire una combinazione commerciale iniziale. In precedenza, l'azienda aveva intenzione di sciogliersi e liquidarsi, ma ha ora deciso di continuare le sue operazioni e cercare l'approvazione degli azionisti per estendere la data di terminazione. Gli azionisti non devono intraprendere alcuna azione al momento.
RMG Acquisition Corp. III ha anunciado la cancelación de su disolución, revelando planes para perseguir una combinación de negocios inicial en su lugar. La compañía había planeado previamente disolverse y liquidarse, pero ahora ha decidido continuar sus operaciones y buscar la aprobación de los accionistas para extender la fecha de terminación. Los accionistas no necesitan tomar ninguna acción en este momento.
RMG Acquisition Corp. III는 해산 취소를 발표하고 대신 초기 사업 결합을 추구할 계획을 밝혔습니다. 회사는 이전에 해산 및 청산할 예정이었으나, 이제 운영을 계속하고 종료 날짜를 연장하기 위해 주주들의 승인을 구하기로 결정했습니다. 주주는 현재 어떠한 조치도 취할 필요가 없습니다.
RMG Acquisition Corp. III a annoncé l'annulation de sa dissolution, révélant des plans pour poursuivre une combinaison commerciale initiale à la place. La société avait auparavant l'intention de se dissoudre et de se liquider, mais a maintenant décidé de continuer ses opérations et de rechercher l'approbation des actionnaires pour prolonger la date de résiliation. Les actionnaires n'ont aucune action à entreprendre pour le moment.
Die RMG Acquisition Corp. III hat die Annullierung ihrer Auflösung bekannt gegeben und plant stattdessen, eine initiale Geschäftskombination zu verfolgen. Zuvor hatte das Unternehmen die Absicht, sich aufzulösen und zu liquidieren, hat sich jedoch nun entschlossen, den Betrieb fortzusetzen und die Zustimmung der Aktionäre zur Verlängerung des Beendigungsdatums zu suchen. Aktionäre müssen derzeit keine Maßnahmen ergreifen.
Positive
  • None.
Negative
  • None.

NEW YORK--(BUSINESS WIRE)-- RMG Acquisition Corp. III (the “Company”) issued a press release on April 8, 2024 (the “Prior Announcement”) announcing that the Company would not consummate an initial business combination by the date required by its Fourth Amended and Restated Memorandum and Articles of Association (the “Termination Date”), and that (i) the Company intended to dissolve and liquidate, effective as of the close of business on April 22, 2024, (ii) that the Company would redeem all of the outstanding Class A ordinary shares that were included in the units sold in its initial public offering, at a per-share redemption price of approximately $10.00 (the “Redemption”) and (iii) the Company’s securities would be delisted from Nasdaq.

However, notwithstanding anything contained in the Prior Announcement, the board of directors of the Company has subsequently determined that it is in the best interests of the Company and its shareholders to (i) continue its pursuit of an initial business combination (and not liquidate the Company’s trust account or consummate the Redemption at this time), and (ii) prepare and file a proxy statement seeking shareholder approval to extend the Termination Date. In addition, the Company is in the process of appealing the previously-reported delisting determination and the Company expects its securities will remain listed on The Nasdaq Capital Market during the appeals process.

No action is required by existing shareholders of the Company at this time.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the Company’s current expectations and are subject to numerous conditions, risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on April 18, 2023, and the Company’s quarterly reports on Form 10-Q filed with the SEC, each available on the SEC’s website, www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

INVESTOR CONTACT:

Philip Kassin

President & Chief Operating Officer

pkassin@rmginvestments.com

+1 (786) 359-4103

Source: RMG Acquisition Corp. III

FAQ

What did RMG Acquisition Corp. III announce regarding its dissolution?

RMG Acquisition Corp. III announced the cancellation of its dissolution and intention to pursue an initial business combination instead.

What is the per-share redemption price for the outstanding Class A ordinary shares?

The per-share redemption price for the outstanding Class A ordinary shares is approximately $10.00.

What will happen to the Company's securities following the announcement?

The Company's securities will be delisted from Nasdaq, but the board of directors has decided to continue pursuing an initial business combination and preparing a proxy statement to extend the Termination Date.

Do existing shareholders need to take any action at this time?

No action is required by existing shareholders of the Company at this time.

RMG Acquisition Corp. III

NASDAQ:RMGC

RMGC Rankings

RMGC Latest News

RMGC Stock Data

126.85M
4.14M
84.69%
13.48%
0.02%
Shell Companies
Electrical Industrial Apparatus
Link
United States of America
MIAMI BEACH