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According to an official press release from FORT Robotics, physical AI security platform FORT Robotics announced on October 22 that it secured approximately $20 million in new investment commitments from existing investors. Tiger Global led approximately $10 million of the financing round, with Mark Cuban Companies participating, and the closing is expected to take place within this week. Tiger Global also committed an additional $10 million to the PIPE (private investment in public equity) transaction scheduled to close concurrently with the merger. Including previously announced PIPE commitments, the total committed capital for FORT’s proposed business combination with Newbury Street II Acquisition Corp. (NASDAQ: NTWO) has exceeded $50 million. Following the completion of the merger, the company will be renamed FORT Robotics Holdings, Inc., and plans to list on NASDAQ under the ticker symbol “FROB,” pending regulatory approval.
Zhibao Technology, a Nasdaq-listed digital insurance products company, announced it has signed a non-binding term sheet with Joyertech and Information OPC. The company plans to sell shares through a PIPE financing, receiving approximately 3,500 Bitcoins as consideration, valued at around $220 million at current prices. The transaction remains subject to final valuation, custody arrangements, audit verification, regulatory review, Nasdaq compliance, and the signing of a definitive agreement. According to the term sheet, upon the closing of the PIPE financing, the buyer is expected to designate a majority of the members of Zhibao's Board of Directors, while the existing management team will continue to be responsible for day-to-day operations. On July 15, Zhibao disclosed that it had received a deficiency notice from Nasdaq because its stock price had fallen below $1.00 per share. The company has 180 calendar days, until January 6, 2027, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.
the business combination between Securitize and SPAC Cantor Equity Partners II (NASDAQ: CEPT) is expected to raise approximately $400 million (including PIPE, before deducting related expenses). Upon completion of the merger, the new company will be renamed Securitize Corp., and its common stock is planned to begin trading on the New York Stock Exchange under the ticker "SECZ" starting July 2. The CEPT shareholder meeting is scheduled to vote on the transaction on June 29, with the current redemption rate below 30%. Securitize claims to have obtained regulatory licenses related to digital securities infrastructure in both the United States and the European Union, managing over $4 billion in on-chain real-world assets. (PR Newswire)