RMG III to Combine with H2B2

RMG Acquisition III in an 8-K filing today said it entered into a merger agreement with H2B2 Electrolysis Technologies, a vertically integrated provider of hydrogen energy systems, services, and equipment. This follows the SPAC's announcement in January that it had signed a letter of intent for a deal with H2B2.

RMG III has also extended its deadline by month to June 9, as the first of up to three one-month extensions until Aug. 9. The SPAC intends to exercise all of the remaining permitted extensions.

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.

The latest regulatory filing included no substantive transaction details on the proposed merger. Read more.

Source: RMG III to Combine with H2B2