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RMG.U - RMG Acquisition News Story

$31.25 -7.8  -19.9%

Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 7277

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
    ** 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)
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