FORT Robotics To Go Public With Newbury Street II Acquisition

(RTTNews) - FORT Robotics Inc.(FROB), a developer of safety solutions for robotics and physical AI, on Tuesday announced a definitive agreement to go public through a business combination with Newbury Street II Acquisition Corp. (NTWO, NTWOU, NTWOW), a special purpose acquisition company.

The transaction is expected to close in the fourth quarter of 2026.

The transaction values the combined company at a pro forma value of $556.6 million, including a pre-money equity value of $500 million.

The combined company will be named FORT Robotics Holdings Inc. and is expected to trade on Nasdaq under the ticker FROB.

The transaction is expected to provide approximately $201 million in gross proceeds, including about $31 million from Private Investment in Public Equity and non-redemption agreement investments from new and existing institutional investors.

The company expects to receive approximately $182 million in net cash after estimated transaction costs, assuming no redemptions by Newbury's public shareholders.

The company said the proceeds will be used to accelerate product development, expand global go-to-market and channel partner efforts, and support targeted acquisitions.

The company also mentioned that existing shareholders will roll 100% of their equity into the combined company and are expected to retain about 67% ownership on an issued and outstanding basis at closing.

The company reported 62% year-over-year revenue growth in 2025, while operating expenses increased 19% during the year.

On August 14, Newbury Street II Acquisition closed at $0.2799 on the NasdaqGM.