SoftBank-backed Berkshire Grey to go public via $2.7 bn SPAC deal

SoftBank-backed robotics firm Berkshire Grey said on Wednesday it has agreed to go public through a merger with a blank-check firm in a deal that values the combined company at $2.7 billion.
 

The deal is expected to provide Berkshire Grey about $413 million in cash, as the maker of logistics automation systems looks to take advantage of a surge in online shopping amid the COVID-19 pandemic.
 

The proceeds include a private investment of $165 million anchored by venture capital investor Chamath Palihapitiya and funds and accounts managed by BlackRock Inc.
 

Palihapitiya has been one of the most prolific sponsors of