Berkshire Grey up after bell following Softbank confirmation

Berkshire Grey

10/02/2023 22:45

** Shares in Berkshire Grey  BGRY.O  regained some lost ground
in after the bell trading on Friday after it confirmed Softbank
Group Corp  9984.T  indicated an interest in buying the company
    ** After falling 13.7% to $1.475 in regular session, the
company's shares were up 7.8% at $1.59 in after-hours trading
    ** BGRY said it received non-binding indication of interest
from SoftBank to buy all outstanding capital stock for $1.30/shr
in cash. SoftBank had announced its proposal late on Thursday
    ** It said terms of any deal would be contingent on
conditions including completion of due diligence review
    ** Berkshire Grey said board will carefully evaluate
SoftBank's offer, also currently evaluating various alternative
options, including potential financing transactions. It also
said no assurance a definitive Softbank deal or any other
potential transaction will be consummated
    ** BGRY's latest qtrly report in Nov showed a net loss of
$0.11/shr on rev of $23.6 mln, which was up 26% from the same
qtr in 2021 
    ** BGRY says it combines AI and robotics to automate
fulfillment, supply chain, and logistics operations 
 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))