Sarcos Robotics to IPO via Rotor Acquisition Corp SPAC
April 6, 2021
From Robotic exoskeleton maker Sarcos announces SPAC plans on TechCrunch:
This morning, however, Utah-based Sarcos Robotics announced plans to board the SPAC train, courtesy of Rotor Acquisition Corp.
The deal could potentially value the robotic exoskeleton maker and blank check co. at a combined $1.3 billion, along with a potential $281 million earn-out.
Sarcos is exploring an interesting business model. From Sarcos Guardian XO Exoskeleton at CES 2020 on YouTube:
The question is how much does it cost?
We do a robot-as-a-service model. We priced it at the equivalent of a $25 an hour and coins in the United States. We maintain it, we keep it operating, if it doesn't work we don't get paid.
Worth watching the whole video if you are considering investing in this company.