S&C Advises Symbotic in $5.5 Billion Go-Public Merger with Softbank SPAC

December 20, 2021

Symbotic has agreed to combine with SoftBank Investment Advisers' special purpose acquisition company, SVF Investment Corp. 3. The deal values the company at $5.5 billion, and will accelerate its push into warehouse automation, powered by a fleet of autonomous robots with A.I.-enabled software that can power a customer's entire supply chain technology platform. Longstanding S&C client Rick Cohen is Symbotic's original investor, CEO and chairman. The deal is expected to raise $725 million in gross proceeds, including $200 million from SoftBank Vision Fund 2 and $205 million in equity from investors including Walmart.
The S&C team representing Symbotic includes George Sampas, Matt Goodman, Bob Downes, and Mimi Wu; Bob Reeder is advising on certain SEC and securities matters; Isaac Wheeler is advising on tax matters; Jeannette Bander is advising on executive compensation matters; Mehdi Ansari and Justin Orr are advising on intellectual property matters; Eric Queen and Brad Smith are advising on antitrust and competition matters; Chris Mann and Eric Kadel are advising on CFIUS matters; and Matt Brennan is advising on environmental matters.