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.
