BlackRock-backed SPAC RMG Acquisition prices $200 million IPO at $10

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RMG Acquisition, a blank check company formed to acquire a materials or energy services business, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one third of one warrant to purchase one share of common stock at $11.50. 

Anchor investors BlackRock and Alta Fundamental Advisers intend to purchase $25 million worth of shares in the offering (12.5% of the deal).

Chairman James Carpenter is CEO of Riverside Management Group, and is a managing member of the SPAC's sponsor. 

RMG Acquisition plans to list on the NYSE under the symbol RMG.U. Deutsche Bank acted as a lead manager on the deal.

The article BlackRock-backed SPAC RMG Acquisition prices $200 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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