RMG Acquisition Corp. III Unit - RMGCU STOCK NEWS

RMG Acquisition Corp. III received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Quarterly Report on Form 10-Q for Q1 2021. While the notice does not immediately affect trading, the company has until July 27, 2021, to submit a compliance plan. Following new SEC guidance on the accounting of warrants, RMG has reclassified its redeemable warrants as derivative liabilities and is working to finalize its financial statements to regain compliance.

RMG Acquisition Corp. III completed its initial public offering of 48,300,000 units at $10.00 per unit, raising a total of $483 million. The units started trading on Nasdaq under the ticker RMGCU on February 5, 2021. Each unit comprises one Class A ordinary share and one-fifth of a redeemable warrant, with whole warrants available for purchase at $11.50 per share. The entity aims to merge or acquire businesses across various sectors for potential long-term returns. BofA Securities and Barclays acted as joint book-running managers for the offering.

RMG Acquisition Corp. III has priced its initial public offering (IPO) at $10.00 per unit, totaling 42,000,000 units to be listed on Nasdaq under the symbol 'RMGCU' starting February 5, 2021. Each unit consists of one Class A ordinary share and one-fifth of a redeemable warrant, allowing purchase of additional shares at $11.50 each. The IPO is anticipated to close on February 9, 2021, subject to standard conditions. BofA Securities and Barclays are the joint book-running managers, with the option for underwriters to purchase an additional 6,300,000 units for over-allotments.