Bright Machines to go public via $1.1B merger with SCVX

Bright Machines, a software-defined manufacturing automation company, has entered into a definitive merger agreement with SPAC SCVX. The transaction values Bright Machines at a pro forma enterprise value of $1.1 billion and is expected to provide up to $435 million in gross cash proceeds, including a $205 million PIPE.

“Bright Machines offers an innovative approach to manufacturing automation by combining proprietary software with adaptive hardware to automate repetitive tasks.”sec.gov

• 3 sources
• sec.govMay 17, 2021
• businesswire.comBright Machines, a Leader in Intelligent, Software-Defined Manufacturing, to Become a Public Company via Merger with SCVXMay 17, 2021
• globalventuring.comBright Machines highlights reverse mergerMay 18, 2021

Summarized from public sources; check the original articles before acting on it.