Mergers & Acquisitions ·
Newbury Street II proposes $556.6M business combination with Fort Robotics, targeting Nasdaq listing under ticker 'FROB'
NTWONewbury Street II Acquisition Corp
Newbury Street II Acquisition Corp announced the confidential submission of a draft registration statement on Form S-4 with the SEC for its proposed business combination with Fort Robotics. The transaction values Fort Robotics at an enterprise value of approximately $556.6 million and is expected to provide roughly $201 million in gross proceeds, resulting in approximately $182 million of net cash to the combined company assuming no redemptions. Concurrently, Newbury Street II engaged Donerail Group & Co LLC as a transaction advisor for a $350,000 fee and granted approximately 599,166 founder shares to Donerail. Director William Zachre Wyatt resigned effective September 29, 2026, in connection with the advisory engagement to eliminate conflicts of interest. The combined entity will be named FORT Robotics Holdings, Inc., targeting a Nasdaq listing under ticker 'FROB' by late 2026 or early 2027. Newbury Street II is a special purpose acquisition company formed to effect a merger with one or more businesses.