RMG Acquisition Corp. III Announces Cancellation Of Dissolution; Co Would Redeem All Of The Outstanding Class A Shares That Were Included In The Units Sold In Its IPO, At A Per-Share Redemption Price Of ~$10 And The Co's Securities Would Be Delisted From Nasdaq
Portfolio Pulse from Benzinga Newsdesk
RMG Acquisition Corp. III has reversed its decision to dissolve and liquidate by April 22, 2024, previously announced on April 8, 2024. Instead, the company will continue seeking an initial business combination and has decided not to proceed with the redemption of its Class A ordinary shares at $10.00 each. It is also appealing the decision to delist its securities from Nasdaq and expects to remain listed during the appeal process.
April 19, 2024 | 5:15 pm
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RMG Acquisition Corp. III cancels dissolution and share redemption, continues seeking business combination, and appeals Nasdaq delisting.
The cancellation of the dissolution and share redemption plan, along with the appeal against Nasdaq delisting, indicates a positive outlook for RMG Acquisition Corp. III. This decision reflects the company's confidence in securing a business combination and maintaining its listing status, which could positively influence investor sentiment and the stock's short-term performance.
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IMPORTANCE 90
RELEVANCE 100