Fort Robotics Advances SPAC Deal With Confidential S-4 Filing
aiinsider ·
Fort Robotics has advanced its merger with Newbury Street II Acquisition Corp. by confidentially submitting a draft registration statement on Form S-4 to the U.S. Securities and Exchange Commission. This business combination values Fort at approximately $556.6 million in enterprise value and $500 million in pre-money equity value. If approved, the combined entity will be named Fort Robotics Holdings and trade on Nasdaq under the ticker FROB. The transaction is projected to close in the fourth quarter of 2026 or the first quarter of 2027, pending shareholder and regulatory approvals. The deal is expected to raise about $201 million in gross proceeds, including $31 million from PIPE investments. Fort reported a 62% revenue growth in 2025 while maintaining a 66% gross margin. The Philadelphia-based company develops safety infrastructure for robots and serves over 600 customers, including Google DeepMind and DoorDash.
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