SoftBank SPAC to Take Walmart-Backed Symbotic Public in $5.5 Billion Deal

SoftBank SPAC to Take Walmart-Backed Symbotic Public in $5.5 Billion Deal
The logo of SoftBank Group Corp. is displayed at SoftBank World 2017 conference in Tokyo on July 20, 2017. Issei Kato/Reuters
Reuters
Updated:

Walmart Inc.-backed Symbotic said on Monday it would go public through a merger with a SoftBank Group Corp. blank-check firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion.

The deal with SVF Investment Corp. 3 is supported by a private investment in public equity of $205 million from a group of investors, including Walmart.