Found in Robotics News & Content, with a score of 32.61
November 09, 2021
…Separation anxiety due to foreign ownership Special-purpose acquisition company (SPAC) Hennessy Capital (HCIC V) raised $345 million in its initial public offering (IPO) in January 2021 and is listed on the Nasdaq Capital Market as “HCIC.” Nov. 8 was the “outside date” in the original merger agreement for canceling the deal with Plus. “HCIC was formed to merge with a company that provides sustainable technologies,” said Daniel J. Hennessy, chairman and CEO of HCIC V. “We believe in the potential for autonomous trucks to transform the trucking industry and in Plus’s ability to continue its global deployment of autonomous trucking…
Found in Robotics News & Content, with a score of 32.59
August 20, 2021
…Finance Acquisition Corp. III, a special-purpose acquisition company or SPAC sponsored by Cantor Fitzgerald & Co. The combined company will retain the AEye name and began trading on Nasdaq under the ticker symbol “LIDR” on Aug. 18. “AEye’s transition to the public markets marks a key milestone in our corporate journey, enabling us to accelerate adoption of our high-performance, intelligent lidar system and accelerate our mission to bring safe autonomy to the masses,” stated Blair LaCorte, CEO of AEye. “AEye is experiencing strong business momentum based on its partnership with Continental, one of the world’s largest automotive suppliers, as well…
Found in Robotics News & Content, with a score of 31.69
April 18, 2022
…mergers between robotics startups and special-purpose acquisition companies, or SPACs, were all the rage. Occasionally, however, some deals don't work out. Integrity Implants Inc., which does business as Accelus, last week said that it and CHP Merger Corp. have mutually agreed to terminate a business combination agreement “as a result of market conditions.” “In light of market conditions, we believe that this strategic pivot will best enable our team to execute on our mission to transform the spine surgery space by accelerating the adoption of MIS [minimally invasive surgery] as the standard of care,” said Chris Walsh, co-founder and CEO…
Found in Robotics News & Content, with a score of 30.84
October 07, 2021
…Acquisitions Inc., a publicly traded special-purpose acquisition company or SPAC. The Tel Aviv, Israel-based company has developed 4D imaging radar chipsets for driver-assist systems and self-driving vehicles. It expects to begin trading its ordinary shares and warrants on Nasdaq tomorrow under the ticker symbols “ARBE” and “ARBEW,” respectively. “Becoming a publicly traded company extends our first-mover advantage and market-leading position as we continue to spearhead a radar revolution,” stated Kobi Marenko, CEO of Arbe. “We continue to see strong customer uptake in our chipset as they recognize the superior capabilities of our products and significant cost advantages, and we expect…
Found in Robotics News & Content, with a score of 30.68
April 23, 2021
…process of teaming up with a special-purpose acquistion company (SPAC), his company's approach to commercialization, and requirements and use cases for industrial exoskeletons. Anatomy of a SPAC deal How did Sarcos and Rotor Acquisition find each other? What are the benefits of working with a SPAC? Wolff: It started with our board talking about what we were going to do about our next capital raise and ramping up commercial production. About the time we were beginning that conversation internally, we approached by a number of diff SPACs that were interested. It's a sign of the times with how many were…
Found in Robotics News & Content, with a score of 29.50
January 31, 2022
…Capital Acquisition Corp. (GCAC) is a special-purpose acquistion company (SPAC) led by Akis Tsirigakis and George Syllantavos, co-CEOs. The New York-based firm will hold the special meeting at 10:00 a.m. Eastern Time on Feb. 9, 2022. Founded in 2016, Cepton said its leadership includes industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies. The San Jose, Calif.-based company said it is focused on the mass-market commercialization of high-performance, high-quality lidar systems. Cepton has a business-development facility in Troy, Mich., to provide local support to the numerous OEMs and Tier 1 automotive suppliers…
Found in Robotics News & Content, with a score of 28.97
February 02, 2022
…TuSimple San Diego 1,081 IPO 4/7//2021 Aurora Pittsburgh 1,000 SPAC 7/15/2021 Plus Cupertino, Calif. 920 SPAC, IPO 6/23/2021 WeRide Guangzhou, China 620 Series B, C 6/23/2021 Embark San Francisco 614 SPAC 6/23/2021 Nuro Mountain View, Calif. 600 Series D 11/2/2021 Public rides now available GM and Cruise employees have been testing the autonomous vehicles, which have individual names like Sourdough, Tostada, Poppy, and Disco. While people were excited to be riding in self-driving cars, they quickly became bored—as they should, Vogt noted. “I work on these cars every day, and I’ve seen every inch of progress,” he wrote in a…
Found in Robotics News & Content, with a score of 27.30
July 06, 2021
…$40 million total. There were nine reported mergers and acquisitions in June 2021, with two involving special-purpose acquisition companies (SPACs). In comparison, Robotics 24/7 found 11 such transactions in May. More than $220 million of last month's fundings were Series A rounds, but Series D rounds raised more than $1 billion. Note that many companies did not disclose the amounts of their investments, so the true totals are likely higher. Here are the top 10 publicly disclosed automation transactions from June 2021.
Found in Robotics News & Content, with a score of 26.84
April 18, 2022
…Acquisition Corp., a publicly traded special-purpose acquisition company, or SPAC, last week announced it is entering a business agreement with ICONIQ Holding Ltd., a maker of autonomous electric vehicle technologies that does business as NWTN. NWTN said it is a green mobility technology company focused on what it called SPVs for “smart passenger vehicles.” Alan Wu is the founder and chairman of the company. ICONIQ said in its announcement of the agreement that it was based in Dubai, but the company's LinkedIn profile said it was headquarted in Shanghai. A new subsidiary to be formed At the completion of the…
Found in Robotics News & Content, with a score of 26.15
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 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 24.97
June 23, 2021
…software provider Embark Trucks Inc. and special-purpose acquisition company (SPAC) Northern Genesis Acquisition Corp. II today announced that they have agreed to a merger that will lead to Embark becoming a publicly listed company. For the past five years, San Francisco-based Embark Trucks has been testing purpose-built Class 8 trucks using its autonomous driving software. The startup has partnered with leading carriers in the $700 billion U.S. trucking market such as Anheuser-Busch InBev, HP Inc., Werner Enterprises, Mesilla Valley Transportation, and Bison Transport. They pay a per-mile software-as-a-service subscription cost to deploy autonomous trucks. “We have been solely focused on…
