July 21, 2021

BerkshireGrey Chips400x275Berkshire Grey, which develops AI-baseds software and hardware to automate warehouses and fulfillment centers, has completed the previously announced business combination with Revolution Acceleration Acquisition Corp. (RAAC), a special purpose acquisition company (SPAC). Berkshire Grey’s Class A common stock and public warrants are expected to commence trading on the Nasdaq under the ticker symbols “BGRY” and “BGRYW” on Thursday, July 22, 2021.

Tom Wagner, Berkshire Grey’s founder and CEO, as well as the company’s management team, will continue to lead the combined company. John Delaney, CEO and co-founder of RAAC, has joined the combined company’s board of directors, along with Fiona P. Davis and Serena Wolfe.

Berkshire Grey, at the time of the original announcement, estimated a post-transaction equity value of up to $2.7 billion. The company was founded by Wagner in 2013 as a pure-play robotics company to help retailers and logistics companies meet the demand of consumers driven by the growth of e-commerce. Berkshire Grey uses a combination of robotic arms, mobile robots, and conveyor belt systems to improve efficiency within warehouses, parcel sorting centers, and other fulfillment locations.

For more information on Berkshire Grey, visit the company’s website here.

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