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Home / Today s Market / ROT Stock: 5 Things to Know About Rotor and the Sarcos Robotics SPAC Merger ROT Stock: 5 Things to Know About Rotor and the Sarcos Robotics SPAC Merger Rotor and Sarcos Robotics will merge and trade under STRC later this year Apr 6, 2021, 11:31 am EDT April 6, 2021
Rotor Acquisition (NYSE:
ROT) stock are slowly rising on Tuesday following news of the special purpose acquisition company’s (SPAC) merger with Sarcos Robotics.
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The Utah-based robot manufacturer will go public via a reverse merger with Rotor, and provides a major opportunity for Sarcos and its technology. In fact, according to the release, the merger is “expected to provide the company with up to $496 million of proceeds before expenses to fund business plans, facilitate potential bolt-on acquisitions, and enhance capabilities.”
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