Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 8, 2023

Article Excerpt

SYMBOTIC INC., $50.33, symbol SYM on Nasdaq, manufactures AI-powered autonomous robots, which major companies use in their warehouse fulfillment and distribution processes to save time and money. Customers using the Symbotic platform include Walmart, Target, and C&S Grocery Wholesalers. Symbotic went public in June 2022 through a merger with SVF Investment Corp. 3, a special purpose acquisition company (SPAC) backed by Japan’s SoftBank Group (symbol SOBKY on the U.S. Over-the-Counter market). In November 2023, Southern Glazer’s Wine & Spirits announced that it intends to deploy Symbotic’s AI-powered software and robotics warehouse automation systems in some of its distribution centres. The first of the systems is expected to be installed by 2025. Southern Glazer’s Wine & Spirits is one of the world’s largest beverage alcohol distributors. It operates in 44 U.S. states, the District of Columbia, and Canada. Meanwhile, Walmart is a big customer and owns 10.8% of Symbotic’s 554.7 million outstanding shares. Walmart first invested in the company in June 2022, and it is…