FORT Robotics and Newbury Street II Acquisition Corp Announce Confidential Submission of Draft Registration Statement on Form S-4 in Connection with Proposed Business Combination
Business Wire•30/09/2026•16:00 ET
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Key Highlights
- ➤FORT Robotics (FROB) confidentially submitted a draft Form S-4 for its proposed business combination with Newbury Street II (NTWO)
- ➤Transaction values FORT at approximately $556.6 million enterprise value and $500.0 million pre-money equity value
- ➤Business combination expected to provide approximately $201 million gross proceeds and $182 million net cash
- ➤FORT revenue grew 62% year-over-year in 2025 while maintaining a 66% gross margin
- ➤Closing expected in fourth quarter of 2026 or first quarter of 2027, subject to approvals
Expert Statements
Thomas Bushey, Chief Executive Officer of Newbury Street II Acquisition Corp
“Newbury Street II is led by Chief Executive Officer Thomas Bushey, former President of Ondas (Nasdaq: ONDS), a leading provider of private wireless networks and autonomous robotics platforms for industrial infrastructure.”
FORT Robotics and Newbury Street II Acquisition Corp Announce Confidential Submission of Draft Registration Statement on Form S-4 in Connection with Proposed Business Combination
Submission marks a key milestone toward creating the first publicly traded company dedicated principally to the safe and scalable deployment of physical AI
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