Two Firms Aid SPAC Merger With Symbotic Warehouse Robotics Firm

Sullivan & Cromwell is advising Symbotic LLC, a warehouse robotics firm that has Walmart, Target and Albertsons as customers, on its go-public merger with a special purpose acquisition company.

Paul Weiss is advising the SPAC, SVF Investment Corp. 3., which is sponsored by an affiliate of SoftBank Investment Advisers, in the deal that values Symbotic at around $5.5 billion.

After the transaction’s close, expected in 2022’s first half, the combined company will operate as Symbotic Inc. and trade on the Nasdaq under the ticker symbol SYM, according to a statement.

The deal is expected to raise $725 million in gross ...