FORT Robotics, a safety platform developing a “trust layer” for physical AI, and Newbury Street II Acquisition Corp, a special purpose acquisition company, have entered into a definitive business combination agreement that will result in the combined company becoming a publicly traded company.
Upon closing of the business combination, the combined company will be named FORT Robotics Holdings, Inc. and is expected to be listed on the Nasdaq Stock Market (Nasdaq) under the new ticker symbol “FROB”, subject to regulatory approvals.
The transaction values the combined company at a pro-forma enterprise value of $556.6 million (pre-money equity value of $500.0 million). [Read more…] about FORT Robotics to go public via business combination with Newbury Street II Acquisition Corp