FORT Robotics agrees $556.6 million Nasdaq deal

• FORT Robotics agreed to combine with Newbury Street II Acquisition Corp in a transaction valuing the combined company at a $556.6 million pro forma enterprise value.
• Newbury Street II shares were up 0.28% at $10.72 in premarket trading following the announcement.
• The transaction is expected to provide about $201 million in gross proceeds, with FORT saying the funds will support product development, commercial expansion and potential acquisitions.

FORT Robotics agreed to combine with Newbury Street II Acquisition Corp (NASDAQ:NTWO) at a $556.6 million pro forma enterprise value, with the combined company expected to trade as FROB.

The transaction carries a $500 million pre-money equity value and is expected to provide about $201 million in gross proceeds assuming no shareholder redemptions.

The financing includes more than $31 million of PIPE and non-redemption commitments, while FORT expects approximately $182 million of net cash after estimated transaction costs.

Following the announcement, Newbury Street II Acquisition Corp's share price was up 0.28% at $10.72 in premarket trading.

FORT said 2025 revenue increased 62%, while its platform has been deployed across more than 19,500 units for over 600 customers and existing shareholders will roll 100% of their equity.

The companies expect the transaction to close in Q4 2026, subject to shareholder, SEC, regulatory and Nasdaq approvals, with existing FORT shareholders expected to own about 67% of the combined company assuming no redemptions.