Sarcos Technology and Robotics Corporation (“Sarcos”) has recently announced that its common stocks and warrants have been approved for trading on Nasdaq.
Sarcos is the leader in the development of robotic systems that augment humans and remote inspection robots that enhance productivity and safety. They have got permission to trade on Nasdaq Global Market under the ticker symbols STRC and ASTRC. And the trading has successfully started on 27 September 2021.
On September 15 this year, the Sarcos business, along with Rotor Acquisition Corp. (“Rotor”), a publicly-traded special purpose acquisition company, was approved by Rotor’s stockholders. Rotor’s common stocks and warrants were delisted from the New York Stock Exchange (NYSE) when the transaction closed on September 24, 2021. And Sarcos has a belief that the capital raised from the business combination is enough to fund their current business plan and has no intention of raising additional capital at this time.
“Chairman and CEO, Sarcos, Ben Wolff has said that Having our securities listed on the Nasdaq is a very crucial step for us on the Nasdaq is a crucial step for Sarcos,” Now we have all the resources we need to bring our award-winning Guardian® XO® industrial exoskeleton and Guardian® XT™ industrial robotic avatar system to the market.
This indeed will serve as a great solution for companies abroad and helps in situations where there’s a shortage of workers who can do physically demanding tasks. And we are very excited to continue working towards the development of our first commercial units, which are schedued to launch at the end of 2022.”