Deal Details

Sarcos Merges with Rotor SPAC

Industrial
Technology & Services

Sarcos merger with Rotor

Summary

Sarcos Technology and Robotics Corporation (“Sarcos” or the “Company”) announced that it has closed its previously announced merger with the special purpose acquisition company Rotor Acquisition Corp. (“Rotor”). Through the business combination, Sarcos common stock and warrants began trading on the Nasdaq (NASDAQ: STRC and STRCW).

Baird served as a capital markets advisor to Sarcos Technology and Robots Corporation on this transaction

About

Sarcos is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity. Leveraging more than 30 years of research and development, Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, and Guardian® XT™, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is based in Salt Lake City, Utah.

Rotor was a special purpose acquisition corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with potential target companies with certain industry and business characteristics within the areas of disruptive consumer and industrial technologies. Brian Finn, Director and CEO, previously served as Chairman and CEO of Asset Management Finance Corp and as a Senior Advisor to Credit Suisse. Stefan Selig, Chairman, served as a Managing Partner of BridgePark Advisors LLC. Amy Salerno, CFO, previously served as the CFO and COO of Covr Financial Technologies. Rotor is headquartered in New York, New York.

Industrial
Technology & Services

Sarcos merger with Rotor