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Berkshire Grey has fully integrated with Revolution Acceleration Acquisition Corp (Nasdaq: RAAC) (“RAAC”), a special purpose acquisition company. The company also celebrated its first day of trading on the NASDAQ on Thursday, July 22, 2021. Berkshire Grey’s Class A common stock and public warrants commenced trading on The Nasdaq Stock Market LLC under the ticker symbols “BGRY” and “BGRYW”. The team had to wait until August 27, 2021 to ring the bell on the trading floor.
The “BGRY” common stock finished the day up 2.88% to $8.93 per share, while the “BGRYW” public warrants finished up 1.27% at $1.21 per share.
Founder and CEO, Tom Wagner, and the Berkshire Grey management team will continue to lead the combined company. Former U.S. Representative and presidential candidate and former CEO and co-founder of RAAC, John Delaney, has joined the combined company’s Board of Directors. In addition, Fiona P. Dias and Serena Wolfe will join the combined company’s Board of Directors.
Berkshire Grey is a developer of integrated artificial intelligence and robotic solutions for e-commerce, retail replenishment. The deal with RAAC, which was announced in February, valued the combined company at $2.7 billion.
Berkshire Grey recently partnered with FedEx, a 2021 RBR50 Robotics Innovation Award winner. FedEx Ground, a subsidiary of FedEx, recently deployed Berkshire Grey Robotic Product Sortation and Identification (RPSi) systems at its station in Queens, N.Y. The system will robotically sort thousands of small packages that arrive daily in bulk into containers bound for other locations across the FedEx Ground network. In the coming months, FedEx Ground will deploy the same systems at sortation facilities in Las Vegas and Columbus, Ohio.
RPSi has been engineered to autonomously process — pick, identify, sort, collect, and containerize — individual polybags, tubes, padded mailers, and other small packages that traditionally are sorted manually.
Berkshire Grey was founded in 2013 by Wagner, who is also the former CTO of iRobot. The company emerged out of stealth mode in 2018.