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RMG.U - RMG Acquisition News Story

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BUZZ-RMG Acquisition rises as co to take Romeo Power public

Mon 5th October, 2020 12:15pm
** Blank-check company's shares  RMG.N  rise 3.8% to $11.90
premarket 
    ** RMG to merge with Romeo Power Technology following which
the latter will go public  urn:newsml:reuters.com:*:nBw5XXyGVa
    ** Romeo Power Technology designs and manufactures
lithium-ion battery modules and packs for commercial EVs
    ** Pro forma equity value of the combined company, Romeo
Power Inc, is ~$1.33 bln 
    ** Transaction expected to close in Q4 2020
    ** YTD, RMG stock up 15%, as of last close

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))
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