RMG ML Sports Holdings closes $200 million IPO, trust account reaches $216.5 million
RMG ML Sports Holdings, a blank check company, closed its initial public offering of 20,000,000 units at $10.00 per unit on June 11, 2026, raising $200 million in gross proceeds. After the underwriters partially exercised their over-allotment option, the trust account holds $216.5 million, and the company has not yet selected a business combination target. Shareholders' funds stay in the trust until a business combination is completed or the company liquidates or redeems public shares, with a 21-month completion window from the IPO closing.
Key points
- 20,000,000 units sold at $10.00 per unit on June 11, 2026, for $200 million in gross proceeds
- 1,650,000 over-allotment units sold June 15, 2026, adding $16.5 million; trust account totals $216.5 million
- On June 16, 2026, the underwriters declined the rest of the option and 450,000 Class B shares were forfeited by the sponsor
- Company has 21 months from the IPO closing to complete an initial business combination and has not selected a target
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 17, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.