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Tuesday, January 31, 2023

Sarcos Robotics to Merge with Rotor Acquisition Corp

Sarcos Robotics, a developer of robots that augment humans to enhance productivity and safety, announced on April 6 that it will become publicly listed through a merger transaction with Rotor Acquisition Corp., a publicly-traded special purpose acquisition company. 

The combined company is to be named Sarcos Technologies and Robotics Corporation and the transaction is anticipated to close in Q3 2021.

Upon closing, the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol STRC. The transaction represents an enterprise value of $1.3 billion for the combined company, plus a potential earnout of an additional $281 million based on the combined company’s future share trading price.

Homeland Security Todayhttp://www.hstoday.us
The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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