Sarcos Robotics

Sarcos is an American developer of robotics, microelectromechanical systems and related technologies. The company, which began operations in 1983, specializes in the development of robotic devices for military and industrial purposes. Sarcos exoskeletons help people move heavy items, reducing workplace injuries and allowing less able-bodied employees to perform tasks such as lifting baggage at the airport without assistance.

History

2021: Plans to enter the exchange through a merger with SPAC

In early April 2021, Sarcos Robotics announced its upcoming entry into the exchange through a merger with SPAC-company Rotor Acquisition. The value of the combined company will be $1.3 billion plus potential revenue of $281 million due to an increase in the value of shares in the future.

To successfully implement the plan, the companies raised about $220 million through private investment in stock exchange shares (PIPE) from investors such as BlackRock, Millennium Management, Palantir Technologies, Caterpillar Venture Capital, Schlumberger, as well as from company management.

Sarcos Robotics enters the exchange through a merger with SPAC-company Rotor Acquisition

According to Bloomberg, led by CEO Ben Wolff, Sarcos will receive about $500 million in revenue from the SPAC deal. The company will lease its exoskeleton at a price of $100 thousand per year, which is comparable to the total cost of hiring a worker for $25 per hour in the United States. Sarcos Robotics exoskeletons allow you to carry 90-kg loads for 8 hours.

According to Wolf, the production of the original versions of the devices costs "hundreds of thousands of dollars." According to his forecasts, this cost will be reduced to $65 thousand, as soon as Sarcos enters full-scale production in five years. By April 2021, the only product of the company on the market is a robot for inspection (visual inspection) of inaccessible hazardous objects. According to Wolf, it will make up a small part of the company's revenues when Sarcos "more serious products are commercialized.^[1]

Notes