Available now the Investor Presentation for Newbury Street II and FORT Robotics Deal.
FORT Robotics, Inc., a safety and cybersecurity platform developing “The Trust Layer” for Physical AI, has entered into a definitive business combination agreement with special purpose acquisition company Newbury Street II Acquisition Corp (Nasdaq: NTWO).
Upon closing—expected in the fourth quarter of 2026—the combined entity will operate as FORT Robotics Holdings, Inc. and is expected to trade on the Nasdaq under the new ticker symbol FROB.
Key Deal Terms & Financial Highlights
- Enterprise Value: Pro-forma enterprise value of approximately $556.6 million (pre-money equity value of $500.0 million).
- Capital Infusion: The transaction is expected to deliver up to $182 million in net cash to the balance sheet (assuming no redemptions).
- Institutional Backing: The deal includes over $31 million in committed equity capital through PIPE (Private Investment in Public Equity) and Non-Redemption Agreements, supported by prominent investors including Tiger Global, Prologis Ventures, and Mark Cuban.
- Ownership: Existing FORT shareholders are rolling 100% of their equity into the transaction and will retain a majority stake of roughly 67% in the combined company.
Why It Matters: Safety Infrastructure for Physical AI
As autonomous machines, robotics, and physical AI systems move from controlled environments into shared human workspaces, functional safety and teleoperation have become critical bottlenecks.
- Universal Trust Layer: FORT provides a hardware-agnostic, third-party certified (Safety Integrity Level 3 / IEC 61508) safety stack enabling robots across multiple manufacturers to operate safely around humans.
- Customer Base: FORT’s system is deployed across 600+ organizations, including industry leaders such as Google DeepMind, Agility Robotics, Zoox, DoorDash, and Ocado.
- NVIDIA Collaboration: FORT recently announced a strategic collaboration with NVIDIA within the Halos for Robotics ecosystem.
- Strategic Teleoperation: The transaction follows FORT’s acquisition of Mapless AI, expanding its platform to include remote human-in-the-loop control and active safety features.
Leadership & Board of Directors
FORT will continue to be led by Founder and CEO Samuel Reeves. Following the transaction, the board of directors is slated to feature notable industry figures:
- Sally Miller (Global CIO, DHL Supply Chain)
- Jennifer Vescio (Former Executive, Uber)
- Vijay Kumar (Dean of Engineering, University of Pennsylvania)
- Karl Iagnemma (CEO, Vecna Robotics)
Use of Proceeds
FORT plans to deploy the transaction proceeds toward:
- Pursuing targeted, high-synergy tuck-in M&A opportunities.
- Accelerating development of next-generation safety intelligence, observability, and cybersecurity tools.
- Scaling global go-to-market channels and commercial reach.