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Sarcos Robotics to Merge with SPAC.

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M2 EQUITYBITES-April 7, 2021-Sarcos Robotics to Merge with SPAC

(C)2021 M2 COMMUNICATIONS http://www.m2.com

US-based mobile industrial robotic systems developer Sarcos Robotics will become publicly listed through a merger transaction with special purpose acquisition company Rotor Acquisition Corp. (NYSE: ROT.U), the company said.

Upon closing, the combined company's common stock is expected to trade on NASDAQ under the ticker symbol STRC.

The transaction represents an enterprise value of USD 1.3bn for the combined company, plus a potential earnout of an additional USD 281m based on the combined company's future share trading price.

Sarcos is developing mobile, highly dexterous robotic systems designed for dynamic or unstructured environments.

With a focus on augmenting humans for non-repetitive tasks where human decision making is essential, Sarcos' robotic solutions are designed to enhance individual productivity, making physically demanding jobs safer and more accessible to more people...

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