FORT Robotics Goes Public via SPAC Merger with Newbury St

PHILADELPHIA, PA and BOSTON, MA, USA. August 18, 2026 - FORT Robotics, Inc., a safety platform developing the trust layer for physical AI, and Newbury Street II Acquisition Corp (Nasdaq: NTWO), a special purpose acquisition company, announced they have entered into a definitive business combination agreement. Upon closing, the combined company will be named FORT Robotics Holdings, Inc. and is expected to be listed on the Nasdaq Stock Market under the ticker symbol FROB.

The transaction values the combined company at a pro-forma enterprise value of $556.6 million, with a pre-money equity value of $500.0 million. The deal is expected to deliver approximately $201 million in gross transaction proceeds, including $31 million of common equity in the form of PIPE and non-redemption agreements from institutional investors such as Tiger Global, Prologis Ventures, and Mark Cuban. Existing FORT shareholders will roll 100% of their equity into the combination, retaining an estimated 67% majority ownership stake.

Transaction Details

• Pro-forma enterprise value of $556.6 million
• Expected gross transaction proceeds of approximately $201 million
• $31 million raised via PIPE and non-redemption agreements
• Net cash to balance sheet of approximately $182 million
• Ticker symbol: FROB on Nasdaq