Deals
Sarcos Robotics Plans SPAC Deal for $1.3 Billion Value
- Deal with Rotor Acquisition includes earnout provision, PIPE
- Wearable robotic devices enable workers to lift heavier loads
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Sarcos Robotics is planning to go public through a reverse merger with blank-check company Rotor Acquisition Corp.
The Salt Lake City-based robot maker and the special purpose acquisition company, or SPAC, will have a combined valuation of $1.3 billion including debt, the company said in a statement on Tuesday, confirming an earlier Bloomberg News report. The deal includes a potential earnout of an additional $281 million based on the performance of the stock after the merger.