NEW
YORK, March 27, 2023 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman LLP is investigating the
proposed $1.40 per share
($375 million total) going-private
acquisition of Berkshire Grey, Inc. (Nasdaq: BGRY) by the company's
largest shareholder, SoftBank Group Corp.
To learn more about the investigation and help secure greater
consideration for your shares, click here.
Berkshire Grey is a pioneer in transformative, AI-enabled
robotic technologies that address use cases in retail, eCommerce,
grocery, 3PL, and package handling companies. The company went
public in 2021 through a "de-SPAC" transaction with Revolution
Acceleration Acquisition Corp (RAAC), which valued the company at
$2.7 billion. Since then, management
has overseen an extraordinary drop in stock value.
On March 24, 2023, Berkshire Grey
announced that affiliates SoftBank agreed to acquire the company
for $1.40 per share in cash, which
values the company at approximately $375
million. As part of the deal, Berkshire Grey's management is
expected to stay on with the company. The deal is expected to close
in the third quarter of 2023.
Julie & Holleman is investigating potential legal claims
regarding the fairness of the $1.40
per share merger price and also potential conflicts of interest.
Berkshire Grey's stock traded above $2.50 per share only six months ago, and the
company has since posted solid financial returns. This price also
represents a small fraction to the company's value when it went
public through the de-SPAC transaction with RAAC. Separately, that
the company's largest shareholder, SoftBank, wants to buy the
company and continue partnering with existing management suggests
that the biggest stakeholders know that the company will be worth
far more in the future.
If you would like more information about Julie & Holleman's
investigation, or about the acquisition in general, please contact
W. Scott Holleman by email at
scott@julieholleman.com or by telephone at (929) 415-1020. You may
also visit the firm's website by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions, and corporate
investigations. The firm's attorneys litigate in state and federal
courts across the nation and have helped secure hundreds of
millions of dollars for aggrieved companies and their shareholders.
For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP