48 days ago • Posted by William Ramstein

Robotics firm Berkshire Grey to go public through SPAC

Logistics automation provider Berkshire Grey Inc. is planning to go public through a merger with special-purpose acquisition company Revolution Acceleration Acquisition Corp. that would value the robotics company at $2.7 billion. The deal, the latest in a SPAC boom that is bringing technology companies to the market, is expected to provide Bedford, Mass.-based Berkshire Grey up to $413 million in cash. The business expects to have about $507 million in cash at the closing, expected in the second quarter. Berkshire Grey shareholders Khosla Ventures, New Enterprise Associates, Canaan Partners and SoftBank Group Corp. will roll 100% of their equity into the combined company, the companies said Wednesday. Source: WSJ

bg_nwsletter