Press Release February 24, 2021

Berkshire Grey to Become Publicly Traded Company Through Business Combination with SPAC Revolution Acceleration Acquisition Corp.

Goodwin’s Mergers + Acquisitions and Special Purpose Acquisition Companies teams advised Berkshire Grey (“BG”) in its definitive agreement with Revolution Acceleration Acquisition Corp (Nasdaq: RAAC), a special purpose acquisition company, to create a leading publicly listed robotics and automation solutions company with a post-transaction equity value of up to $2.7 billion. The transaction is expected to provide up to $413 million in cash proceeds, including a fully committed PIPE of $165 million, with current BG shareholders rolling 100 percent of their equity into the combined company. 

The transaction, which has been unanimously approved by RAAC’s Board of Directors and BG’s Board of Directors, is expected to close during the second quarter of 2021 and is subject to approval by RAAC’s stockholders and other customary closing conditions. 

Berkshire Grey is a pure-play robotics company offering fully integrated, artificial intelligence-based software and hardware solutions to automate business operations in warehouses and logistics fulfillment centers – meeting consumer demands and exponential e-commerce growth.

The Goodwin team was led by Mark Opper, Jocelyn Arel and Dan Espinoza and included David Roberts, Eryn Mathews, Chris Versfelt and Austin Abir

For additional details on the transaction, please read the press release.