RMG Acquisition Corp. III
RMGC
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
The last figure filed while this was still a SPAC.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from RMG Sponsor III, LLC, listed in February 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 8 February 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 57 OCEAN, SUITE 403, MIAMI BEACH, FL, 33140
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- no Form 3/4 ownership filing captured yet
- Listed securities
- RMGC common
As last filed — the filing date is not recorded. That was the account's last filed value before it was settled — the company does not hold it now.
At the 11 January 2023 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
- $10.00 a share is the last cash figure filed while this was still a SPAC. It is a record of what the account held, not money anyone can ask for now.
What has happened, and what is coming
3 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 8 February 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
47.38M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Jan 11, 2023Deal voteno rate statedredeemed 47.38M sh0001140361-23-040692
The score
deterministic, from filed fieldsRMGC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
RMG Acquisition Corp. III was a blank-check company that priced its initial public offering on February 8, 2021, under SEC file number 333-251889. The company, assigned SEC CIK 0001838108 and SIC industry code 3620, traded under the common ticker RMGC. On April 9, 2024, the company filed an 8-K announcing it would liquidate and redeem all outstanding public shares at a per-share redemption price of approximately $10.00. The public shares were deemed cancelled as of the close of business on April 22, 2024, completing the return of trust cash to shareholders.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
A trust of $5.60 million supporting about $10.04 a share means the float has shrunk to roughly 557,000 public shares after earlier redemptions - the SPAC is a shell seeking more time with almost no public constituency left. The redemption price barely exceeds the original $10.00 because withdrawals for working capital have offset accrued interest, so holders have earned essentially nothing for three years of waiting.
Warrant holders are convened at their own meeting, separate from shareholders, so the warrant terms require a distinct approval rather than carrying over unchanged. The registered share count is absent from the cover and both meeting dates are blank, so this version fixes neither a dilution ceiling nor a deadline. The domestication moves the surviving company to Delaware law before closing.
Warrant holders vote at their own meeting, separate from shareholders, so the warrant terms require a distinct approval rather than passing through unchanged. Neither the registered share count nor either meeting date is filled in, so this version fixes no dilution ceiling and no deadline. The domestication moves the surviving company to Delaware law before closing.
Warrant holders are convened at their own meeting from this first amendment onward, so the warrant terms are put to a separate constituency rather than carried over automatically. Neither the registered share count nor either meeting date is ever filled in across this registration statement's amendments, so no version of it fixes a dilution ceiling or a deadline.
The H2B2 deal is signed and the company commits to putting it to a separate vote, so this extension is a scheduling step rather than an open-ended search. The cost to holders is the redemption limitation amendment: removing the $5,000,001 floor means the trust can be drained without limit, so a holder who stays could end up in a company with a signed deal but no cash to fund it. That trade-off, timing certainty in exchange for surrendering the capital guardrail, is the substance of this vote.
The two-constituency structure is present from the baseline: warrant holders vote at their own meeting on the terms affecting their warrants, separately from shareholders. Neither the registered share count nor either meeting date is filled in here or in the amendments that follow, so no version of this registration statement fixes a dilution ceiling or a deadline. The domestication moves the surviving company to Delaware law before closing.
Show 1 more material filings
Conditioning the additional extension months on having a signed definitive agreement is a genuine protection: the board cannot keep the vehicle alive indefinitely on a search alone, so holders know the clock stops if no deal materialises. With about $485.9 million in trust and a $10.08 per-share floor sitting six cents above the $10.02 market price, redemption is the better exit and is fully funded. No target is named in this document, which makes the conditional structure the main safeguard for anyone who stays.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: RMG Acquisition Corp. III called an extraordinary general meeting for October 15, 2024 at 10 a.m. Eastern Time at the offices of Latham & Watkins LLP in Houston to approve an Extension Proposal, having previously amended its Charter on August 4, 2023. Why it matters: A trust of $5.60 million supporting about $10.04 a share means the float has shrunk to roughly 557,000 public shares after earlier redemptions - the SPAC is a shell seeking more time with almost no public constituency left. The redemption price barely exceeds the original $10.00 because withdrawals for working capital have offset accrued interest, so holders have earned essentially nothing for three years of waiting.
What changed vs 2024-01-31deadline 2024-08-09 → 2024-11-09combination deadline1 moved
- Combination deadline
- 2024-08-092024-11-09
SpacBrain reads this as 92 days later than the previous record.
The clause …“whole or in part). 49.7 In the event that the Company does not consummate a Business Combination on or before November 9, 2024, provided that the board of Directors may, without a shareholder vote, elect to extend such date by up to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
RMG Sponsor III, LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/5 · 100.0% of the $10 unit
from 424B4 0001104659-21-014312
Trading & liquidity
Company profile
Directors & officers
No Form 3/4 ownership filing has been captured for this SPAC yet, so the roster is empty rather than guessed.
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
4 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Walleye Capital LLC6.3% · SC 13G/ANov 14, 2024 stale
- METEORA CAPITAL, LLCwith 1 other reporting person on the same schedule5.5% · SC 13GFeb 14, 2024 stale
- PROPPER KERRYwith 1 other reporting person on the same schedule0.4% · SC 13G/AFeb 14, 2024 stale
- ARISTEIA CAPITAL LLC0.0% · SC 13G/AFeb 12, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — RMGC (RMG Acquisition Corp. III)
vault-note · /vault/tickers/RMGC
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail2 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 3620 (Electrical Industrial Apparatus). The screen found it by filing SHAPE instead — S-1 2021-01-04 → 8-A12B 2021-02-04 → 424B4 2021-02-08 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 3620 + self-described blank check in 424B4 0001104659-21-014312; 424B 0001104659-21-014312 priced 2021-02-08 under S-1 0001104659-21-000396 (file 333-251889, an offering for cash); common ticker RMGC off 8-K 0001213900-24-088590 (2024-10-18); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-251889, which belongs to S-1 0001104659-21-000396 (2021-01-04) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-02-08). Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001140361-24-018708 (2024-04-09) — announced redemption of all public shares: “…will redeem all of the outstanding shares of Class A ordinary shares that were included in the units sold in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.00. As of the close of business on April 22, 2024, the Public Shares will be deemed cancelled and will repr…”. Trust at settlement $10.00/share, stated in that filing. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "RMG Sponsor III, LLC" sourced from prospectus definition (10-K) acc 0001193125-22-092121.