Sarcos Robotics today announced that it will merge with Rotor Acquisition, giving the combined company an enterprise value of $1.3 billion.
Pending shareholder approval, upon closing the combined company’s common stock is expected to trade on the Nasdaq under STRC. Dea;l terms call for a potential earnout of an additional $281 million based on the combined company’s future share trading price.
The $496 million transaction consideration consists of the SPAC’s cash in trust plus a $200 million PIPE. Read more.
