RTTNews | Apr 6, 2021 08:01AM EDT

08:01 Tuesday, April 6, 2021 (RTTNews.com) - Industrial robotic systems maker Sarcos Robotics has decided to go public through the merger with special purpose acquisition company Rotor Acquisition Corp. (ROT), Sarcos Robotics said in a release.

On closing, the combined company would have an enterprise value of $1.3 billion with a potential to earn about 281 million additionally, based on the company's share price.

The combined company's stock is expected to trade on Nasdaq under the ticker symbol STRC.

Stefan M. Selig, Chairman of Rotor, said, "We launched Rotor Acquisition Corp. with the goal of identifying and partnering with companies that are leveraging technology and innovation to disrupt 'old-economy' businesses in large and growing markets. Sarcos fits these criteria perfectly."

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