Stock Alert: Rotor Acquisition Rising In Pre-market On Merger News

Shares of special purpose acquisition company Rotor Acquisition Corp. (ROT) are up more than 1% in pre market on Tuesday after the company announced its decision to merge with industrial robotic systems maker Sarcos Robotics.

On closing, the combined company would have an enterprise value of $1.3 billion with a potential to earn about 281 million additionally, based on the company's share price.

The transaction is expected to close in the third quarter of 2021.

ROT close Monday's regular trade at $9.77, up 0.46%. At one point, the stock was trading up 3% in pre-market at $10.10. The stock is currently at $9.90.

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