RMG Acquisition IV, the fourth blank check company formed by Riverside's James Carpenter and former Carlyle executive Robert Mancini, lowered the proposed deal size for its upcoming IPO on Thursday.
The New York, NY-based company now plans to raise $200 million by offering 20 million units at $10. The company had previously filed to offer 27.5 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-fifth of a warrant. At the revised deal size, RMG Acquisition IV will raise -27% less in proceeds than previously anticipated.
The company is led by Executive Chairman James Carpenter, the founder and CEO of Riverside Management Group, and CEO Robert Mancini, a former Managing Director with The Carlyle Group and co-head of its power investment business. While the company has not selected a specific target industry or geography, it intends to capitalize on the ability of the management team to identify, acquire, and operate businesses across a broad range of sectors, including diversified industrials, business services, technology. It plans to focus on businesses with enterprise values between $750 million and $1.5 billion.
RMG Acquisition IV was founded in 2021 and plans to list on the Nasdaq under the symbol RMGDU. BofA Securities and Barclays are the joint bookrunners on the deal.
