Romeo Ability and RMG Acquisition Corp. Announce Closing of Business Blend Romeo Electricity to Trade on NYSE Less than Ticker “RMO” as of December 30, 2020

LOS ANGELES–(Small business WIRE)–Romeo Units, Inc. (“Romeo Power”), an energy technological innovation chief delivering large-scale electrification answers for sophisticated commercial apps, declared today that it has done its small business mixture (“Business Combination”) with RMG Acquisition Corp. (“RMG”) (NYSE: RMG), a particular purpose acquisition business. The Small business Combination was permitted by RMG stockholders in a unique meeting held on December 28, 2020 and consummated on December 29, 2020. Beginning on December 30, 2020, Romeo Power’s shares of popular inventory will trade on the New York Stock Trade (“NYSE”) under the ticker image “RMO” and its warrants will trade on the NYSE less than the ticker image “RMO.WT”.

The Enterprise Mix valued Romeo Electricity at a $900 million pre-cash organization worth and resulted in Romeo Energy increasing somewhere around $394 million (prior to charges) in supplemental fairness funding. Roughly 99.8% of RMG shareholders voting their shares voted in favor of the Business Mix and no RMG shareholders redeemed their RMG shares. The additional cash are anticipated to assistance Romeo Power’s ongoing development and innovation, infrastructure and R&D investments.

“We are really energized about finishing our merger with RMG,” remarked Lionel Selwood, Jr., Chief Govt Officer of Romeo Electricity. “At this inflection position where regulation is driving electrification across the industrial car marketplace and adjacent sectors, Romeo Power’s power know-how is ready to meet up with the need.”

“Nowadays marks a large milestone for Romeo Ability and RMG,” commented Robert Mancini, Main Government Officer of RMG. “We expended important time and evaluated hundreds of providers prior to picking out Romeo Ability for this transaction. Romeo Power’s modern technology and powerful partnerships solidify its situation as a market chief, and we seem forward to operating with them.”

With additional than $545 million in contracted revenues throughout its various and escalating established of clients, Romeo Electric power is providing simplified, electrification alternatives for medium- and large-obligation commercial automobiles. The business layouts and provides battery management devices, modules and packs in dwelling at its 113,000 sq.-foot manufacturing facility in Los Angeles, California.

Furthermore, Romeo Electric power has the help of vital strategic investors, such as BorgWarner, a huge, tier-a person automotive supplier with whom it has a joint undertaking, and Republic Solutions and The Heritage Group, equally leaders in the environmental, recycling and squander removal industries.

Goldman Sachs & Co. LLC served as distinctive monetary advisor, and Paul Hastings LLP served as authorized advisor to Romeo Energy. Morgan Stanley & Co. LLC served as direct economical advisor, Nomura Greentech Money Advisors, LLC served as fiscal advisor, and Latham & Watkins LLP served as authorized advisor to RMG. Morgan Stanley & Co. LLC also served as sole placement agent to RMG on the PIPE offering. Davis Polk & Wardwell LLP served as authorized advisor to Morgan Stanley & Co. LLC.

For more information and facts, remember to reference RMG and Romeo Power’s proxy assertion/consent solicitation statement/prospectus filed with the Securities and Trade Commission.

About Romeo Electricity, Inc.

Romeo Electric power (NYSE: RMO), established in 2016 in California by Michael Patterson, is an market-foremost electricity technological innovation corporation centered on coming up with and manufacturing lithium-ion battery modules and packs for business electric cars. By way of its vitality dense battery modules and packs, Romeo Energy enables significant-scale sustainable transportation by delivering safer, extended lasting batteries with shorter charge situations. With better energy density, Romeo Electrical power is capable to generate lightweight and efficient options that deliver remarkable overall performance, and deliver enhanced acceleration, variety, protection and sturdiness. Romeo Power’s modules and packs are customizable and scalable, and they are optimized by its proprietary battery administration program. The organization has roughly 100 employees and additional than 60 battery-certain engineers and a 113,000 sq. foot manufacturing facility in Los Angeles, California with important battery development abilities carried out in-house. On October 5, 2020, Romeo Power and RMG Acquisition Corp. (NYSE: RMG), a unique objective acquisition corporation, declared a definitive settlement for a business enterprise blend that would end result in Romeo Energy becoming a publicly mentioned corporation. The mixed firm now operates as Romeo Electricity, Inc. and is outlined on the NYSE below the ticker image “RMO.” For extra facts on Romeo Energy, remember to stop by https://romeopower.com

About RMG Acquisition Corp.

RMG Acquisition Corp (NYSE: RMG) is a unique objective acquisition business whose management and board has deep encounter in power, renewable strength, environmental providers, energy engineering and company governance. RMG’s team involves top rated level executives from Goldman Sachs, Carlyle Team, Cogentrix Electricity, Deloitte & Touché, Accessibility Industries, Calpine Company and Riverside Administration Team.

Ahead On the lookout Statements

Sure statements in this push release may perhaps represent “forward seeking statements” in the this means of the “safe harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995. When applied in this push launch, the words and phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variants of these words and phrases or equivalent expressions (or the detrimental versions of this sort of terms or expressions) are meant to identify ahead-on the lookout statements. These ahead-hunting statements are not ensures of long run effectiveness, situations or outcomes, and entail a amount of known and unidentified risks, uncertainties, assumptions and other significant elements, many of which are exterior Romeo Power’s management’s control, that could lead to genuine final results or results to vary materially from those people discussed in the ahead-hunting statements. Critical variables, among some others, that may have an effect on genuine success or outcomes contain: the incapability to understand the expected advantages of its business blend with RMG Romeo Power’s capability to execute on its strategies to acquire and market place new goods and the timing of these advancement applications Romeo Power’s estimates of the size of the marketplaces for its merchandise the fee and degree of sector acceptance of Romeo Power’s products and solutions the achievement of other competing technologies that may well turn into obtainable Romeo Power’s capability to recognize and combine acquisitions the general performance of Romeo Power’s solutions and prospects opportunity litigation involving Romeo Power the prospective outcomes of COVID-19 and basic economic and marketplace circumstances impacting demand from customers for Romeo Power’s goods. You must meticulously consider the foregoing factors and the other challenges and uncertainties explained in the “Risk Factors” segment of the definitive proxy assertion filed by RMG on December 10, 2020 and other documents that the business information with the SEC in the foreseeable future. If any of these pitfalls materialize or our assumptions establish incorrect, actual outcomes could differ materially from all those implied by our ahead-on the lookout statements. Forward-searching statements talk only as of the date they are made. Viewers are cautioned not to put undue reliance on ahead-looking statements, and Romeo Electricity undertakes no obligation to update or revise any ahead-hunting statements, regardless of whether as a result of new data, long run situations or or else, besides as needed by law.