It's now official. Sarcos Technology and Robotics' shares began trading today on Wall Street (NasdaqGM:STRC) today, opening at $9.99 but closing at $9.10/share.
In aftermarket trading, Salt Lake City-based Sarcos shares had traded up to $9.80/share (as of the publish time of this article).
Additionally, Sarcos warrants (NasdaqGM:STRCW) opened at $1.26/warrant before closing at $1.12/warrant.
As reported nearly two weeks ago, Sarcos shareholders voted to merge with Rotor Acquisition Corp., a publicly traded Special Purpose Acquisition Company (aka, a SPAC) to become a publicly traded company post-merger.
For a bit more flavor into what makes Sarcos tick and where the company is going, you might find this write-up of an interview its CEO (Ben Wolff) had with Boardroom Alpha* quite interesting.
Case in point, Wolff expected Sarcos would
- be sitting on close to $500 million post-merger,
- only need $140 million to reach profitability (without developing any new products, and would
- carry a market capitalization of $1.6 billion post-IPO.
Sounds like this could be a very interesting company to pay attention to in the years ahead.
* NOTE: The interview noted above was conducted on September 9, 2021 with Boardroom Alpha, distributed via hyperlink by Sarcos to a direct mail list on September 13, and filed the same day with the U.S. Securities and Exchange Commission.
