BGRY SPECIAL ALERT: Shareholders Interested in Pursuing Claims for Additional Consideration Should Contact Julie & Holleman Regarding Planned Sale of Berkshire Grey to SoftBank Group

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 [email protected] 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

SOURCE Julie & Holleman LLP