Romeo Power Technology, Leading Provider of Battery Technology to the Commercial EV Market, to List on NYSE Through Merger With RMG Acquisition Corp.

  • Romeo Power has entered into a definitive merger agreement with RMG Acquisition Corp. (NYSE: RMG); upon closing, the combined company will remain listed on the New York Stock Exchange under the new ticker symbol “RMO”

  • Romeo Power raises $384 million through the business combination, including a $150 million fully committed PIPE anchored by institutional investors as well as strategic investors The Heritage Group and Republic Services

  • Funding provides for capacity expansion and R&D to further develop the next generation of battery system technologies for commercial vehicles

  • BorgWarner is a strategic investor and joint venture partner of Romeo Power

  • The Heritage Group is a strategic investor, PIPE participant and recycling partner of Romeo Power

  • Republic Services is a strategic investor in the PIPE and intends to enter into a strategic alliance with Romeo Power  

  • Pro forma equity value of the combined company is approximately $1.33 billion

  • Transaction is expected to close

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