walmart-backed-robotics-company-symbotic-going-public

After forming a partnership with Walmart in July to reoutfit the retailer's distribution network with a fleet of fully autonomous robots, Symbotic has announced plans to become a publicly traded company early next year. Yesterday, the robotics and automation firm announced it will go public via a special acquisition company (SPAC), courtesy of a merger with SoftBank Investment Advisers' SVF Investment Corp 3 (SVFC). Once the merger is finalised in the first half of 2022, the combined company will operate under the name Symbotic and trade on the Nasdaq under the ticker symbol SYM. Both Walmart and Symbotic declined comment following a series of phone calls and emails from Capital.com. In the company release issued on Tuesday, Symbotic chair and CEO Rick Cohen said, "Now is the time to take Symbotic to the next level."