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Berkshire Grey, a leader in robotics and AI solutions for warehouses, has completed its business combination with Revolution Acceleration Acquisition Corp (RAAC). Starting July 22, 2021, Berkshire Grey's Class A common stock will trade under the ticker symbol BGRY on Nasdaq, with public warrants trading under BGRYW. The company's founder, Tom Wagner, will continue as CEO, and several new directors will join the board, enhancing leadership for future growth.
Revolution Acceleration Acquisition Corp (Nasdaq: RAAC) has filed a definitive Proxy Statement/Prospectus with the SEC concerning its proposed business combination with Berkshire Grey, a leader in AI-based robotics for warehouses. The Special Meeting for stockholder voting is set for July 20, 2021, at 12:00 PM ET. RAAC encourages all stockholders to vote by July 19, 2021, for their shares to be represented. If approved, the combined entity will trade under the ticker symbols BGRY (Class A Stock) and BGRYW (Warrants) post-closing.
Berkshire Grey (BG) has announced a definitive agreement with Revolution Acceleration Acquisition Corp (RAAC) to create a publicly listed company focused on robotics and automation solutions, valued at up to $2.7 billion. BG specializes in AI and robotic technology for e-commerce and logistics, addressing the growing demand for automation in supply chains. The transaction includes up to $413 million in cash proceeds and aims to enhance BG's growth capabilities. The deal has received unanimous approval from both companies' boards and is expected to close in Q2 2021, subject to stockholder and regulatory approvals.
