Found in Robotics News & Content, with a score of 13.08
August 22, 2023
…the company went public through a special-purpose acquisition company (SPAC) merger. Leidos continues funding development Leidos is a Fortune 500 technology, engineering, and science solutions and services leader working to solve the challenges in the defense, intelligence, civil, and health markets. The Reston, Va.-based company said its 46,000 employees support missions for government and commercial customers. It reported annual revenues of approximately $14.4 billion for the fiscal year ended Dec. 30, 2022. The $2.1 million in funding for Nauticus was in addition to an earlier $2.7 million award. Leidos has provided the program $16.6 million since 2022. The companies said…
Found in Robotics News & Content, with a score of 7.81
July 25, 2023
…through a merger with a SoftBank-affiliated special-purpose acquisition company (SPAC). GreenBox’s board of managers will consist of three managers—one nominee from Symbotic and SoftBank each, and one independent manager. GreenBox’s management team will be independent from Symbotic and SoftBank. Goldman Sachs & Co. served as exclusive financial advisor, and Sullivan & Cromwell LLP as legal advisor to Symbotic. An investor presentation with additional detail is available in the Investor Relations section of the company’s website. Tokyo-based SoftBank Group includes SoftBank Group Corp., an investment holding company that includes stakes in AI, smart robotics, the Internet of Things (IoT), telecommunications, Internet…
Found in Robotics News & Content, with a score of 10.39
July 24, 2023
…and build our coalition of partners.” The company, which raised close to $1 billion in a special-purpose acquisition company (SPAC) merger in 2021, is currently hiring.
Found in Robotics News & Content, with a score of 11.10
May 30, 2023
…million in a merger with a special-purpose acquisition company (SPAC) in 2021, it recently shut down without a prospective buyer. “Today marks an exciting, new chapter for Embark,” said Alex Rodrigues, co-founder and CEO of Embark. “I would like to thank all past and present employees for their contributions over the past seven years. I appreciate everything they have done for the company, and I cannot wait to see where Applied takes the technology we have built.” Applied Intuition said it plans to integrate Embark’s internal tools, data, and software assets to further improve its offerings for customers in the…
Found in Robotics News & Content, with a score of 18.28
March 29, 2023
…with Revolution Acceleration Acquisition Corp., a special-purpose acquisition company (SPAC). Last year, Berkshire Grey entered a purchase and registration rights agreement with Lincoln Park Capital worth up to $75 million. In January, Berkshire Grey partnered with Locus Robotics Corp. to offer cross-platform automation. SoftBank supports robotics companies Tokyo-based SoftBank Group includes an investment holding company that has stakes in robotics, AI, Internet of Things (IoT), telecommunications, Internet services, and clean energy technology providers. The company said it also includes the SoftBank Vision Funds and SoftBank Latin America Funds, which have invested more than $160 billion to help entrepreneurs transform industries…
Found in Robotics News & Content, with a score of 8.07
February 20, 2023
…merger with CleanTech Acquisition Corp., a special-purpose acquisition company (SPAC). Shell and the U.S. Defense Innovation Unit recently awarded Nauticus contracts. “We have a significant partnership with Wood PLC, the world's largest engineering contractor,” Radford told Robotics 24/7. “We're looking at how to amplify each other's strengths. Developing algorithms and fleets of autonomous machines for the oceanscape is really challenging and exciting.” “We believe very strongly that we need to reduce reliance on vessels for offshore tasks—you don't need a jackhammer for a nail,” he said. “As communication latencies increase and bandwidth decreases, we need more self-directed, self-sufficient behaviors at…
Found in Robotics News & Content, with a score of 25.90
February 03, 2023
…that they were deploying automation to 25 distribution centers. SPAC merger coincides with 3x growth In June 2022, Symbotic announced the completion of a merger with special-purpose acquisition company (SPAC) SVF Investment Corp. 3. That SPAC was sponsored by an affiliate of SoftBank Investment Advisors (SBIA), and Symbotic began publicly trading its stock. “In addition to our 168% annual revenue growth, gross margin improved and operating expenses, excluding stock-based compensation, declined sequentially,” said Tom Ernst, chief financial officer of Symbotic. “We initiated a record six system deployments during the first quarter as we continue to rapidly scale operations and deliver…
Found in Robotics News & Content, with a score of 10.89
December 19, 2022
…largest shippers and carriers in the nation. Embark announced plans to raise $614 million in a special-purpose acquisition company (SPAC) merger in June 2021. It planned to establish a nationwide network of fleet transfer points with Ryder System Inc. and a nationwide terminal network with U.S. Xpress. More recently, the company demonstrated emergency vehicle interaction capability with the Texas Department of Public Safety and Travis County Sheriff's Office.
Found in Robotics News & Content, with a score of 26.14
December 16, 2022
…or ATAK, as part of special acquisition company, or SPAC, purchase. DIH makes robotics and virtual reality products and services and is based in Norwell, Mass. Aurora Technology, not to be confused with the self-driving company Aurora, is a publicly traded special purpose acquisition company based out of San Francisco. ATAK said its securities are listed on NASDAQ, with $202M cash in trust raised through its IPO. As a blank check company, ATAK said it was formed with the purpose of entering into a merger with a high-growth technology company, which preferably is founded by Asian or Asian-American entrepreneurs who…
Found in Robotics News & Content, with a score of 8.69
October 28, 2022
…partner for us.” Cepton announced a special-purpose acquisition company (SPAC) deal in January, and it began trading on the Nasdaq Capital Market in February. Under the terms of the investment agreement, which has been unanimously approved by Cepton’s board of directors, Koito will purchase $100 million of convertible preferred stock, with a purchase price of $1,000 per share. The preferred stock will be convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s common stock at an approximate initial conversion price of $2.585 per share. This will represent a 10% premium to Cepton’s volume-weighted average price…
Found in Robotics News & Content, with a score of 13.67
October 06, 2022
…U.S. Securities and Exchange Commission (SEC). Last year, Berkshire Grey announced its intenttion to merge with special-purpose acquisition company (SPAC) Revolution Acceleration Acquisition Corp. (RAAC) in a deal worth up to $413 million.
Found in Robotics News & Content, with a score of 5.61
October 03, 2022
…Waltham, Mass.-based company entered into a special-purpose acquisition company (SPAC) merger last year. It completed the Beta 2 system design of its minimally invasive surgical robot this summer. On the consumer side, Tertill Corp. fielded several inquiries about its robot for weeding gardens. The technology can help busy people as they return to offices, noted Rory MacKean, co-founder and chief product officer at the North Billerica, Mass., company. The wedding robot is called Tertill and is sold on the company’s website for $349. “Tertill is a solar-powered weeding robot for vegetable and flower gardens,” MacKean said. “It’s waterproof, so you…
