Latham Advises RMG Acquisition Corp. in $200 Million Initial Public Offering

RMG Acquisition Corp., a special purpose acquisition company (SPAC), closed its initial public offering of 20,000,000 units at US$10.00 per unit.

February 14, 2019

RMG Acquisition Corp. (the “Company”), a special purpose acquisition company (SPAC), has announced that it closed its initial public offering of 20,000,000 units. The offering was priced at US$10.00 per unit, resulting in gross proceeds of US$200,000,000. The units began trading on the New York Stock Exchange under the ticker symbol “RMG.U” on February 8, 2019. Each unit consists of one share of the Company’s Class A common stock and one-third of one warrant, with each whole warrant enabling the holder thereof to purchase one whole share of Class A common stock at a price of US$11.50 per share. Once the shares of Class A common stock and warrants begin separate trading, they are expected to be listed on the NYSE under the symbols “RMG” and “RMG.WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. 

Latham & Watkins LLP represented RMG Acquisition Corp. in the initial public offering with a corporate team led by Houston partners Debbie Yee and Ryan Maierson with Om Pandya and A.J. Million. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson with associate Eli McCrain; on investment funds matters by Washington, D.C. associate Amy Rigdon; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.

 

 
 
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