Robotic SPAC Deal Gets Backing From Several Fortune 100 Companies $ROT | SPACs Attack

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In this clip, Chris Katje covers Sarcos Robotics, which plans to go public through a reverse merger with blank-check company Rotor Acquisition Corp., a SPAC deal valued at $1.3 billion. The company raised about $220 million in a private investment in public equity, or PIPE, from investors including BlackRock Inc., Millennium Management, Palantir Technologies Inc., Caterpillar Venture Capital Inc., and Schlumberger. Sarcos creates robotic systems for non-repetitive activities in the manufacturing and military sectors in order to boost productivity. Its wearable devices provide mechanical limbs and support to help people lift heavy objects, reducing workplace injuries.

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