SoftBank SPAC to take Walmart-backed Symbotic public in $5.5 bln deal

blank-check firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion.is supported by a private investment in public equity of $205 million from a group of investors, including Walmart.

Supply chain-focused Symbotic offers its services in over 1,400 stores in 16 states and eight Canadian provinces and serves retailers, grocers and wholesalers, including Walmart, AlbertsonsThe deal comes against the backdrop of global supply chain glitches brought on by labour shortages, port logjams, freight costs and chip shortages.

SPACs, or special purpose acquisition companies, are publicly listed investment vehicles that have no operations and are raised with the intention of merging with a private company.

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