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Regarding this special purpose acquisition, RMO ex-CEO Lionel Selwood Jr. said, “We are very excited about completing our merger with RMG…At this inflection point, where regulation is driving electrification across the commercial vehicle industry, and adjacent sectors, Romeo Power’s energy technology is ready to meet the demand.”
However, RMO has declined 76.9% in price year-to-date, reflecting investor concerns over its declining financials and multiple changes in senior management. Selwood, who played a major role in RMO’s stock market debut, was replaced on August 6, following which the stock declined 26.8%.
