RMG Announces Stockholder Approval Of Business Combination With Romeo Systems

Stockholders Approve Merger Of RMG And Romeo Systems

The combined company will be renamed Romeo Power, Inc. and trade on the New York Stock Exchange under the ticker symbol “RMO.”

RMG Acquisition Corp. (RMG) announced the results for the five proposals considered and voted upon by its stockholders at its Special Meeting on Dec. 28, 2020. RMG reported that all of the various proposals giving effect to the previously announced business combination between RMG and Romeo Systems Inc. were approved by approximately 99.8% of the shares of RMG voted at the special meeting. 

Additionally, the deadline for electing redemptions has passed and no stockholder has properly elected to redeem its shares in connection with the business combination. As a result, RMG will have approximately $394 million in its trust account prior to the business combination, which amount includes $160 million received in the private placement, which has been approved by stockholders and is expected to occur concurrently with the closing of the business combination.

The closing of the business combination is anticipated to take place on or around Dec. 29, 2020. Following closing of the business combination, the combined company will be renamed Romeo Power, Inc. and trade on the New York Stock Exchange under the ticker symbol “RMO.”

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