RMG Acquisition Corporation II Announces Stockholder Approval of Business Combination with ReNew Power

RMG Acquisition Corporation II, announced that its stockholders voted to approve the previously announced business combination with ReNew Power, and all other proposals presented at RMG II’s extraordinary general meeting of shareholders held on August 16, 2021.

August 17, 2021. By News Bureau

RMG Acquisition Corporation II, a publicly-traded special purpose acquisition company, announced that its stockholders voted to approve the previously announced business combination with ReNew Power Private Ltd., and all other proposals presented at RMG II’s extraordinary general meeting of shareholders (the Extraordinary General Meeting) held on August 16, 2021.

Approximately 88% of the votes cast on the business combination proposal at the Extraordinary General Meeting were in favor of approving the business combination proposal. RMG II plans to file the results of the Extraordinary General Meeting, as tabulated by an independent inspector of elections, on a Form 8-K with the Securities and Exchange Commission (the SEC).

Subject to the satisfaction or waiver of the other customary closing conditions, the business combination is expected to close on August 23, 2021. As announced previously, the business combination will be effected through a newly-incorporated holding company, ReNew Energy Global plc. RMG II will become a wholly-owned subsidiary of ReNew Global, and ReNew Global’s class A shares and warrants are expected to commence trading on the Nasdaq Global Select Market, which has the highest initial listing standards of any exchange in the world, under the symbols “RNW” and “RNWWW”, respectively, on August 24, 2021. Further, at the closing of the business combination each RMG II unit will separate into its components, which are one RMG II class A share and one-third of one warrant. The holders of RMG II class A shares and warrants will receive equivalent securities of ReNew Global. Following this, the RMG II units, shares and warrants will be delisted from the Nasdaq Capital Market.

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