EX-99.2 3 ea029495401ex99-2.htm PRO FORMA BALANCE SHEET

Exhibit 99.2

 

RMG ML SPORTS HOLDINGS

PRO FORMA UNAUDITED BALANCE SHEET

 

   June 11,
2026		   Pro Forma Adjustments (Unaudited)(1)      As Adjusted (Unaudited) 
Assets:               
Current assets               
Cash  $1,141,734          $1,141,734 
Due from Sponsor   6,500           6,500 
Prepaid expenses   102,500            102,500 
Total current assets   1,250,734            1,250,734 
Long-term prepaid insurance   62,500            62,500 
Cash held in Trust Account   200,000,000    16,500,000   (1)   216,500,000 
                   
Total Assets  $201,313,234    16,500,000      $217,813,234 
                   
Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit                  
Current liabilities                  
Accrued offering costs  $76,971           $76,971 
Over-allotment option liability   157,200    (157,200)  (4)   — 
Total current liabilities   234,171    (157,200)      76,971 
Advisory fee payable   6,000,000    495,000   (3)   6,495,000 
Deferred underwriting fee   6,000,000    495,000   (2)   6,495,000 
Total Liabilities   12,234,171    832,800       13,066,971 
                   
Commitments and Contingencies (Note 6)                  
                   
Class A ordinary shares subject to possible redemption, $0.0001 par value; 20,000,000 shares at redemption value of $10.00 per share   200,000,000    16,295,400   (1)   216,500,000 
         (488,862)  (2)     
         86,500   (4)     
         606,962   (6)     
         16,500,000         
                   
Shareholders’ Deficit                  
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding   —            — 
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 210,000 shares issued and outstanding (excluding 20,000,000 shares subject to possible redemption)   21            21 
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 7,666,667 shares issued and outstanding   767    (45)  (5)   722 
                   
Additional paid-in capital   —    204,600   (1)   — 
         (6,138)  (2)     
         (606,962)  (6)     
         408,455   (7)     
         45   (5)     
                   
Accumulated deficit   (10,921,725)   70,700   (4)   (11,754,480)
         (408,455)  (7)     
         (495,000)  (3)     
Total Shareholders’ Deficit   (10,920,937)   (832,800)      (11,753,737)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit  $201,313,234    16,500,000      $217,813,234 

 

(1)See Notes to Pro forma Unaudited Balance Sheet.

 

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RMG ML SPORTS HOLDINGS

NOTES TO PRO FORMA UNAUDITED BALANCE SHEET

(Unaudited)

 

NOTE 1 - CLOSING OF OVER-ALLOTMENT OPTION

 

The accompanying unaudited Pro forma Balance Sheet presents the Balance Sheet of RMG ML Sports Holdings (the “Company”) as of June 11, 2026 adjusted for the closing of the underwriter’s overallotment option and related transactions, which occurred on June 15, 2026, as described below. 

 

The registration statement for the Company’s Initial Public Offering was declared effective on June 9, 2026. On June 11, 2026, the Company consummated the Initial Public Offering of 20,000,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the “Public Shares”) at $10.00 per Unit, generating gross proceeds of 200,000,000. Each Unit consists of one Public Share and one right (“Share Right”) to receive one eighth (1/8) of a Class A ordinary share upon the consummation of an initial Business Combination (“Public Right”).

 

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 210,000 units (the “Private Placement Units”) at a price of $10.00 per Private Placement Unit, in a private placement to the Company’s sponsor, RMG ML Sports Holdings Sponsor LLC (the “Sponsor”), generating gross proceeds of $2,100,000. Each Private Placement Unit consists of one Class A ordinary share (each, a “private placement share”) and one right to receive one eighth (1/8) of a Class A ordinary share upon the consummation of an initial Business Combination (“Private Placement Right”).

 

The underwriter was granted a 45-day option following the closing of the Initial Public Offering (the “Over-Allotment Option”) to purchase up to 3,000,000 additional Units (the “Option Units”) to cover over-allotments, if any. On June 15, 2026, the underwriter elected to partially exercise its Over-Allotment Option to purchase an additional 1,650,000 Option Units at a purchase price of $10.00 per Unit, generating additional gross proceeds of $16,500,000. On June 16, 2026, the underwriter forfeited the unexercised over-allotment option balance of 1,350,000. As a result of the partial exercise and the forfeiture of the Over-Allotment Option by the underwriter, 550,000 founder shares are no longer subject to forfeiture and 450,000 founder shares were forfeited.

 

As of June 15, 2026, a total of $216,500,000 of the net proceeds from the Initial Public Offering (including the Option Units) and the sale of the Private Placement Units were placed in the Trust Account.

 

Pro forma adjustments to reflect the partial exercise and forfeiture of the underwriter’s Over-Allotment Option are as follows:

 

  Pro forma entry      
1  Cash held in Trust Account   16,500,000     
   Class A ordinary shares subject to possible redemption        16,295,400 
   Additional paid-in capital        204,600 
   To record the sale of additional 1,650,000 Option Units at $10.00 per Unit          
              
2  Class A ordinary shares subject to possible redemption   488,862      
   Additional paid-in capital   6,138      
   Deferred underwriting fee        495,000 
   To record additional deferred underwriting fee in relation to the exercise of the Option Units          
              
3  Advisory fee expense   495,000      
   Advisory fee payable        495,000 
   To record additional advisory fee payable in relation to the exercise of the Option Units          
              
4  Over-allotment option liability   157,200      
   Class A ordinary shares subject to possible redemption (exercised portion)        86,500 
   Over-allotment option liability reversal to profit & loss (forfeited portion)        70,700 
   To close the over-allotment option liability due to the exercise and forfeiture of the Over-Allotment Option          
              
5  Class B ordinary shares   45      
   Additional paid-in capital        45 
   To record the forfeiture of the 450,000 founder shares in relation to the forfeiture of the remaining 1,350,000 Over-Allotment Option          
              
6  Additional paid-in capital   606,962      
   Class A ordinary shares subject to possible redemption        606,962 
   To record accretion of Class A ordinary shares subject to possible redemption to an amount of $10.00 per share          
              
7  Accumulated deficit   408,455      
   Additional paid-in capital        408,455 
   Reclassification of negative Additional Paid in Capital to Accumulated Deficit          

 

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