By Reuters Staff
2 Min Read
(Reuters) - Sarcos Robotics Inc said on Tuesday it will go public through a merger with a blank-check firm backed by former Credit Suisse USA chief Brian Finn, in a deal valuing the combined company at $1.3 billion.
The deal with Rotor Acquisition Corp is expected to fetch Sarcos with about $496 million in proceeds, including a private investment of $220 million from BlackRock Inc, Millennium Management, Palantir Technologies Inc and Rotor CEO Ben Wolff, among others.
Utah-based Sarcos is a developer of wearable robotics equipment designed to help public and private sector workers lift heavy items and reduce injuries at the workplace.
Biggest SPAC Discounts for Tuesday & Two Morning SPAC Deals (ROT and MUDS)
thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
Microsoft : Former Credit Suisse exec backed SPAC to take robotics firm Sarcos public
marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Former Credit Suisse exec backed SPAC to take robotics firm Sarcos public
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Former Credit Suisse exec backed SPAC to take robotics firm Sarcos public
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.