RMG Acquisition Corp. III announces liquidation

RMG Acquisition Corp. III announced that, because the company will not consummate an initial business combination within the time period required by its Fourth Amended and Restated Memorandum and Articles of Association, the company intends to dissolve and liquidate, effective as of the close of business on April 22, and will redeem all of the outstanding shares of Class A ordinary shares that were included in the units sold in its initial public offering, at a per-share redemption price of approximately $10.00. As of the close of business on April 22, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount. Record holders will receive their pro rata portion of the proceeds of the trust account, subject to the company’s obligations under Cayman Islands law to provide for claims of creditors, by delivering their Public Shares to Continental Stock Transfer & Trust Company, the company’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after April 9. The company’s sponsor has agreed to waive its redemption rights with respect to (i) its outstanding Class B ordinary shares issued prior to the company’s initial public offering and (ii) its 3,500,000 outstanding Class A ordinary shares that were converted from Class B ordinary shares into Class A ordinary shares on December 26, 2023. There will be no redemption rights or liquidating distributions with respect to the company’s warrants, which will expire worthless.