Rotor Acquisition Sets Vote Date on $1.3B Sarcos Robotics Deal

Sarcos Robotics

Rotor Acquisition filed a definitive proxy statement on its proposed business combination with Sarcos Robotics and set a Sept. 15 meeting for stockholders to vote on the deal.

The combined company would have an enterprise value of $1.3 billion. The business combination is expected to deliver up to $496 million of gross proceeds to Sarcos, including up to $220 million from a fully committed PIPE.

Pending shareholder approval, upon closing the combined company’s common stock is expected to trade on the Nasdaq under STRC. Deal terms call for a potential earnout of an additional $281 million based on the combined company’s future share trading price. Read more.

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