RMO - Romeo Power 01:41 AM - Dec 17 2020
by: Maverick

RMG - Romeo Power - DD (December 2020)

O/S: 23M
Trust: USD 230M 

Target details:
Implied market cap @ 10/share: USD 1.3B
Investor Presentation:
romeopower.com/RomeoPowerInves...
O/S after acquisition: 135M 
Website: romeopower.com
News: romeopower.com/investors

The Hotness: USA-based, 115k sq ft facility (7GWh capable), EV battery tech, corporate investors (Republic Services, BorgWarner, etc), already announcing contracts, revenue producing.
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RMO - Romeo Power 01:35 AM - Dec 17 2020
by: Maverick

RMG Target Announced: Romeo Power

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 in the fourth quarter of 2020
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Romeo Power - RMO

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