Newbury Street II Acquisition Corp functions as a blank check company, legally structured as an exempted company under Cayman Islands law. Its fundamental purpose is to complete a business combination, which could take the form of a merger, amalgamation, share exchange, asset or share acquisition, reorganization, or other comparable transactions involving one or more enterprises.
FORT Robotics to Go Public via Business Combination with Newbury Street II Acquisition Corp to Advance the Safety of Physical AI
FORT Robotics agreed to go public via a business combination with Newbury Street II Acquisition Corp, valuing the combined company at a pro-forma enterprise value of $556.6 million.
The transaction is supported by $31 million in PIPE commitments from institutional investors including Tiger Global and Mark Cuban, with expected net cash proceeds of $182 million.
FORT reported 62% revenue growth in 2025 and serves over 600 customers including Google DeepMind and DoorDash, positioning itself as a universal safety layer for physical AI.