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Sarcos Robotics has successfully demonstrated its SenSuit controller garment, enhancing teleoperation capabilities for its Guardian XT robot. This system allows for remote operation of the robot's dexterous arms, crucial for tasks requiring precision. The Guardian XT can lift 200 lbs and operates in various challenging environments. The company plans for commercial availability by the end of 2022, integrating advanced technologies for user-friendly control. Sarcos is set to become publicly listed through a merger with Rotor Acquisition Corp (NYSE: ROT, ROT.U, ROT WS), expected to close in Q3 2021.
Sarcos Robotics and Rotor Acquisition Corp. (NYSE: ROT.U, ROT) announced the nomination of an experienced board of directors for their anticipated merger, set to close in Q3 2021. The board includes leaders from Apple, Microsoft, and the U.S. military, enhancing Sarcos' capabilities in robotic systems to increase productivity and safety in various industries. Sarcos plans to launch its Guardian XO exoskeleton in mid-2022, aiming to transform the future workforce. The combined companies will trade under Nasdaq ticker STRC.
Sarcos Robotics announced plans to become publicly listed through a merger with Rotor Acquisition Corp (NYSE: ROT.U, ROT). The deal, valued at $1.3 billion, includes a potential earnout of $281 million. The merged entity's shares are expected to trade on Nasdaq under STRC. Sarcos develops robots to enhance productivity and safety in various sectors, with anticipated product launches in 2022. Following the merger, Sarcos expects to have up to $496 million in cash to support growth initiatives. The transaction has received board approval and is set to close in Q3 2021.
Rotor Acquisition Corp. announced the successful completion of its upsized initial public offering, raising $276 million through the sale of 27.6 million units priced at $10.00 each. The offering, which included 3.6 million units from underwriters' over-allotment, commenced trading on January 15, 2021 under the ticker symbol ROT.U. Each unit consists of one share of Class A common stock and one-half of a redeemable warrant, enabling purchases at $11.50 per share. Proceeds are intended for future mergers or acquisitions, focusing on businesses in the industrial and consumer sectors.
Rotor Acquisition Corp. announced the pricing of its upsized initial public offering of 24,000,000 units at $10.00 each, set to trade under the ticker symbol ROT.U on the NYSE starting January 15, 2021. Each unit includes one share of Class A common stock and half a redeemable warrant, exercisable at $11.50 per share. The Company is focused on mergers and acquisitions in the industrial and consumer sectors. Credit Suisse Securities (USA) LLC is the sole book running manager. The offering is subject to SEC regulations and forward-looking statements are included.
