SVF Investment Corp. 3 merges with warehouse robotics firm Symbotic in SPAC deal

Symbotic Inc.

Definitive Agreement: SVFC to combine with Warehouse Technologies (Symbotic), a warehouse automation company; SVFC must hold ≥$350M cash at close.
Earnout structure: up to 20M additional shares issuable in three tranches if stock price hits $12, $14, $16 within 7 years of closing.
Sponsor shares lock-up: 60% vest at close; 20% at $12 milestone, 20% at $14 milestone; forfeited if not met in 7 years.
Conditions include approval by SVFC stockholders, at least $50M in private placements, and no material adverse change.
Closing expected within 180 days (extendable by 60 days if SEC filing pending); termination fee of $2M payable to SVF in certain scenarios.

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