Berkshire Grey confirms receipt of indication of interest from SoftBank Group

Berkshire Grey (BGRY) confirmed that it has received a non-binding indication of interest from SoftBank Group (SFTBY) to acquire all of the outstanding capital stock of the company for $1.30 per share in cash. The terms of any potential agreement between Berkshire Grey and SoftBank would be contingent on certain conditions, including completion of due diligence review and negotiation of definitive transaction documents. Berkshire Grey also noted that it is currently evaluating various alternative options, including potential financing transactions. Berkshire Grey’s board of directors will carefully evaluate SoftBank’s indication of interest within the context of the ongoing review of various alternatives and in consultation with its financial and legal advisors. No assurance can be given that a definitive transaction with respect to SoftBank’s indication of interest or any other potential transaction will eventually be consummated. Berkshire Grey does not intend to make further announcements about any of the various alternatives that are being evaluated unless and until the board of directors has approved a specific transaction or otherwise determines that further disclosure is appropriate or necessary.