Fenwick Represents FORT Robotics in Business Combination with Newbury Street II Acquisition Corp SPAC

Fenwick is representing FORT Robotics, Inc. a safety platform developing The Trust layer for Physical AI, in a definitive business combination agreement with Newbury Street II Acquisition Corp (Nasdaq: NTWO), a special purpose acquisition company (SPAC).

Upon closing of the Business Combination, the combined company will be named FORT Robotics Holdings, Inc. and is expected to be listed on the Nasdaq Stock Market (Nasdaq) under the new ticker symbol “FROB,” subject to regulatory approvals. The transaction values the combined company at a pro-forma enterprise value of $556.6 million (pre-money equity value of $500.0 million). More information can be obtained from FORT Robotics’ announcement.

The Fenwick transaction team includes corporate partners David Michaels, Aman Singh and Steven Levine, associates Jordan Beals, Christian Choi, Patrick White, Philip Ewing, Spencer Leroux, Sarah Marshall, Steve Krafcik and Ross Willmot and law clerk Andrew Silverstein; technology transactions partner Joseph Schenck and associates Peter Hart, Julia Chung and Andrew Martinez; executive compensation and employee benefits partner Nancy Chen and associates Christophe Delrieu and Christian Ingrassia; and privacy and cybersecurity partner Ana Razmazma and associate Alyona Eidinger.