Deal Details
Symbotic Merges with SVFC
Summary
Symbotic LLC (“Symbotic” or the “Company”) announced that it has closed its previously announced merger with the special purpose acquisition company SVF Investment Corp. 3 (“SVFC”). Through the merger, Symbotic common stock began trading on the Nasdaq (NASDAQ: SYM).
Baird served as a capital markets advisor to Symbotic LLC on this transaction
About
Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, AI-powered robotic and software platform. The Company reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-gen technology, high-density storage and machine learning to solve today's complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce Symbotic transforms the flow of goods and the economics of the supply chain for its customers. The Company is headquartered in Wilmington, Massachusetts.SVFC was a blank check company formed by an affiliate of SoftBank Investment Advisers (“SBIA”) whose business purpose was to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Through the SoftBank Vision Funds, SoftBank LatAm Funds and the SB Opportunity Fund, SBIA is investing more than $175 billion in many of the world's leading technology companies. Ioannis Pipilis, Chairman and CEO, currently serves as a Managing Partner at Softbank. Navneet Govil, Director and CFO, currently serves as a Managing Partner and CFO of SoftBank Investment Advisers. SVFC is headquartered in San Carlos, California.
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- Date
- June 2022
- Company
- Symbotic LLC
- Transaction
- M&A - Sellside
- Sectors
-
Industrial
Technology & Services - Verticals
-
Test, Measurement & Automation
- Target Geography
- North America
- Acquiror Geography
- North America
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