RMG Acquisition Corp. III cancels plan to dissolve and liquidate

RMG Acquisition Corp. III issued a press release on April 8, announcing that the Company would not consummate an initial business combination by the date required by its Fourth Amended and Restated Memorandum and Articles of Association and that the company intended to dissolve and liquidate, effective as of the close of business on April 22. However, notwithstanding anything contained in the prior announcement, the board of directors of the company has subsequently determined that it is in the best interests of the company and its shareholders to continue its pursuit of an initial business combination and not liquidate the company’s trust account or consummate the redemption at this time and prepare and file a proxy statement seeking shareholder approval to extend the termination date. In addition, the company is in the process of appealing the previously-reported delisting determination and the company expects its securities will remain listed on The Nasdaq Capital Market during the appeals process. “No action is required by existing shareholders of the company at this time,” the company stated.