RMG Acquisition Corp. III Announces Liquidation
As of the close of business on July 9, 2025, 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 July 9, 2025 1.
RMG Sponsor III, LLC (the '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.
Nasdaq filed a Form 25 with the United States Securities and Exchange Commission (the 'Commission') to delist the Company's securities on June 28, 2024. The Company hereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.
The board of directors of the Company has recommended and approved that, in connection with the redemption and delisting of the Company's Public Shares and distribution of its trust account, the Company appoint Alvarez & Marsal Cayman Islands Limited as voluntary liquidators of the Company. The voluntary liquidators' role will include determining the next steps for liquidating and/or distributing the Company's remaining assets following the redemption of the Public Shares. The proposed voluntary liquidators are wholly independent of the Company's existing management, its board of directors and its Sponsor.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the Company's current expectations and are subject to numerous conditions, risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on April 18, 2023, and the Company's quarterly reports on Form 10-Q filed with the SEC, each available on the SEC's website, www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
43 minutes ago
- Business Wire
IFF Expands Innovation Center in Singapore with New Immersive Experience Hub
SINGAPORE--(BUSINESS WIRE)-- IFF (NYSE: IFF)—a global leader in flavors, fragrances, food ingredients, health and biosciences—today unveiled its new Immersive Experience Hub located within its Singapore Innovation Center. The multi-sensory facility enables IFF to work alongside customers to conceptualize, test, and refine product ideas in simulated real-world environments—enhancing decision-making, shortening development timelines and improving go-to-market success. 'The new space builds on IFF's $30 million investment in Singapore in 2022, strengthening our position as a strategic innovation hub for Asia,' said Ramon Brentan, site leader of the IFF Singapore Innovation Center and vice president, regional general manager for Greater Asia, Scent. 'The immersive space transforms how we engage with customers and supports our broader innovation strategy in a region expected to drive 60 percent of global economic growth by 2030¹.' 'IFF's decision to set up its Immersive Experience Hub in Singapore reflects strong confidence in our innovation ecosystem for the flavors and fragrances industry,' said Kelly Lai, vice president and head of chemicals and materials at the Singapore Economic Development Board. 'Singapore is a trusted global brand and business hub, supported by world-class talent, digital capabilities and robust R&D. We welcome partners like IFF to co-innovate with our ecosystem and accelerate the development of solutions for Asia's fast-growing consumer market.' From Insights to Innovation IFF's Immersive Experience Hub integrates 360-degree video technology with scent, taste, sound and touch to simulate real-world environments. It enables virtual tours, contextual tastings, fragrance immersion and real-time co-creation—accelerating product design alignment, reducing time to market and boosting customer confidence through lifelike, emotionally engaging experiences. The new facility complements IFF's largest dairy and beverage pilot plant in Southeast Asia, located in the same building—creating a fully integrated ecosystem that connects consumer insights to concept development, application and small-scale commercialization. Combined with IFF's proprietary trend foresight tools and consumer panels, the experience empowers customers to respond more quickly to Asia's diverse landscape and evolving consumer demands with greater precision and creativity. 'In Asia, consumer preferences are deeply diverse and shaped not just by trends, but by heritage, memory and emotion,' said Prakash MG, senior vice president of IFF Taste for Greater Asia. 'This space allows us to turn those rich insights into innovation —co-creating with our customers to bring ideas to life faster and in more meaningful ways that spark joy through food and beverages.' Celebrating SG60 with Singapore's Favorite Flavors and Scents To commemorate the launch and celebrate Singapore's 60th birthday, IFF surveyed 1,000 Singaporeans to uncover their favorite local scent, food and beverages. Inspired by the findings, IFF flavorists and perfumers developed the SG60 collection, which was showcased at the launch of the Immersive Experience Hub—a celebration of Singapore's rich heritage. The food and beverage collection includes Fragrant Orchid Chrysanthemum Tea Slushie Refreshing Coconut Milk Slushie with a hint of Kaya Toast Laksa Cupcake with Laksa Frosting Popcorn Chicken with Hainanese Chicken Rice Flavored Mayo Dip Complementing these delightful creations are equally evocative fragrance inspired by The iconic Singapore Sling cocktail The delicate national flower Orchid A tribute to the architectural marvel of Jewel Changi Airport The Singapore Immersive Experience Hub joins IFF's network of immersive spaces around the world including locations in Florida, Shanghai and Bell Works, New Jersey. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience. Learn more at LinkedIn, Instagram and Facebook. © 2025 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.
Business Wire
2 hours ago
- Business Wire
Genesis HealthCare Sets New Course to Strengthen Future
KENNETT SQUARE, Pa.--(BUSINESS WIRE)-- Genesis HealthCare, Inc., along with its subsidiaries, announced today that it has taken steps to implement a financial restructuring to secure the long-term delivery of its mission. This process is designed to ensure that the Company can continue operating in a seamless manner, while also allowing the Company to address its legacy liabilities associated with previously divested operations. To facilitate the Company's restructuring efficiently and with minimal disruption to ongoing operations, the Company has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division (the "Court"). 'We have much to be proud of for the tremendous progress we have made as an organization over the last several years as we have implemented a forward-looking, enterprise-wide shift from centralized to market-based operations,' said David Harrington, Executive Chairman of the Genesis HealthCare, Inc., Board of Directors. 'Our ongoing work has confirmed that, to maintain our momentum, we must address our legacy debt structure. The goal of this filing is to emerge a stronger, healthier company poised to exceed our goals for clinical and operational excellence.' Chapter 11 of the U.S. Bankruptcy Code guides how a company can restructure its debt while continuing to operate normally during the reorganization. Subject to Court approval, the Company has secured a commitment of $30 million in debtor-in-possession (DIP) financing, from its existing secured lenders. This DIP financing, combined with cash on hand and cash flow generated from ongoing operations, will support the business to satisfy its ongoing obligations, and enable the Company to remain focused on delivering quality care during the Court-supervised process. Importantly, the filing includes provisions to ensure that staff will retain their positions, pay and benefits so that patients and residents will continue to be served by the providers they trust. Vendor agreements will remain in place while the process moves forward. 'We believe this financial reorganization is a necessary step for our organization to sustainably deliver on our mission of improving lives through delivery of high-quality healthcare and everyday compassion,' said Lauren Murray, Genesis HealthCare Chief Operating Officer. 'We assure all those who rely on us for care that we remain fully focused on and committed to providing the high-quality care you have come to expect, and we thank you for your continued confidence. This process is designed to ensure that we can continue to deliver on that commitment. We also are grateful for our talented staff and their dedication to excellence, which has positioned Genesis HealthCare for continued growth and a bright future.' Court filings and additional information related to the proceedings, which include a proposed transaction involving a current affiliate, are available at The proposed transaction is subject to higher bidding and court approval, and would result in the current affiliate acquiring the Company's operations. Those with further questions can call (toll-free in the US) 888-861-3979. Advisors McDermott Will & Emery LLP is serving as legal counsel, Ankura Consulting is providing financial restructuring and Chief Restructuring Officer services (Russell A. Perry and Louis E. Robichaux IV, Co-CROs), and Jefferies is serving as exclusive investment banker. Genesis HealthCare, Inc. is a holding company with affiliates that operate skilled nursing facilities and assisted/senior living communities. Its subsidiaries also specialize in contract rehabilitation therapy, respiratory therapy, physician services, and accountable care, collectively referred to as Genesis HealthCare. To learn more, visit
Business Wire
3 hours ago
- Business Wire
Murata Begins World's First Mass Production of 47μF Multilayer Ceramic Capacitor in 0402-inch Size
KYOTO, Japan--(BUSINESS WIRE)--Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has begun the world's first mass production of the 0402-inch size (1.0 × 0.5 mm) multilayer ceramic capacitors (MLCC) with a capacitance of 47μF*. The new product line, available in two variants with different temperature characteristics, is designed to advance MLCC miniaturization and enhance customer system performance. In recent years, high-performance IT solutions, such as those used in AI servers and data centers, have seen rapid growth. Due to the often high component density demanded by these devices, optimized component placement within limited PCB areas is paramount. As a result, there is increasing demand for capacitors that offer both miniaturization and higher capacitance, along with high reliability under high-temperature conditions caused by heat generated from PCBs and integrated circuits (ICs). In response to these requirements, Murata has utilized its proprietary technologies in ceramic dielectric layers and internal electrode miniaturization to facilitate the world's first mass production of this innovative 47μF product in the compact 0402-inch size. Compared to Murata's conventional 0603-inch size product with the same capacitance, this new capacitor reduces mounting area by approximately 60%. Additionally, it delivers about 2.1 times the capacitance of Murata's previous 22μF product in the same 0402-inch size. The MLCC is available in two variants – the X5R (EIA) GRM158R60E476ME01 with an operating temperature range of -55 to +85°C, and the X6S (EIA) GRM158C80E476ME01 with an operating temperature range of -55 to +105°C. The ability to operate in environments up to 105°C, makes the X6S variant well-suited for placement near ICs, thereby contributing to improved device performance and integration. Both devices feature a ±20% tolerance and rated voltage of 2.5Vdc. Murata is committed to advancing miniaturized capacitors with higher capacitance and improved high-temperature reliability to meet evolving market demands. These innovations not only support the ongoing miniaturization and functional enhancement of electronic devices but also contribute to lower material usage and increased production efficiency per unit, ultimately helping reduce power consumption at Murata's factories and lessen environmental impact. For inquiries regarding this product, please contact us. Notes: * Based on Murata research as of July 9, 2025. About Murata Murata Manufacturing Co., Ltd. is a worldwide leader in the design, manufacture and sale of ceramic-based passive electronic components & solutions, communication modules and power supply modules. Murata is committed to the development of advanced electronic materials and leading edge, multi-functional, high-density modules. The company has employees and manufacturing facilities throughout the world.
