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Latham & Watkins Advises RMG Acquisition Corp. III in US$483 Million IPO

February 10, 2021
Corporate deal team represented the blank check company in the offering.

RMG Acquisition Corp. III, a blank check company, has announced the closing of its initial public offering of 48.3 million units, which included the full exercise of the underwriters’ over-allotment option, at a price of US$10 per unit, resulting in gross proceeds of US$483 million. The units began trading on the Nasdaq under the ticker symbol “RMGCU” on February 5, 2021. Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of US$11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols “RMGC” and “RMGCW,” respectively.

Latham & Watkins LLP represented RMG Acquisition Corp. III in the offering with a corporate team led by New York partner David Allinson and Houston partner Ryan Maierson, with Houston associates Om Pandya, Paul Robe, Trevor Bossi, and Jacob Weiner. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with Washington, D.C. associate Eli McCrain; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.