RMG Acquisition III Adjourns Meeting on Extension Vote Until Tomorrow 

RMG Acquisition III said today's shareholder meeting to consider an extension proposal has been postponed until tomorrow at 10 a.m. Eastern.

No reason was given.

The SPAC last week announced a letter of intent for a merger agreement with H2B2 Electrolysis Technologies, a developer and operator of green hydrogen production systems for clean generation. That announcement came less than a week before the vote on extending the SPAC's merger deadline from Feb. 9 to Aug. 9.

Under the terms of the LOI, H2B2's shareholders would continue holding substantially all of their equity in the combined public company. RMG III and H2B2 expect to execute a definitive agreement before the end of the first quarter 2023, according to a press release.

Since its founding in 2016, H2B2 said it has become a key player in the green hydrogen energy sector. The company is expanding rapidly in Europe, the United States, Latin America, Asia and the Middle East and has secured a role in strategic projects.

RMG III raised $420 million in a February 2021 IPO. Read more.

Source: RMG Acquisition III Adjourns Meeting on Extension Vote Until Tomorrow