Newbury Street II Acquisition Corp (NTWO) filed a Current Report on Form 8-K on October 21, 2026, disclosing an additional private investment in public equity (PIPE) agreement. The filing details an agreement with an Initial PIPE Investor to purchase an additional 1,000,000 shares of Newbury Street II common stock at a price of $10.00 per share, resulting in an additional aggregate purchase price of $10.00 million.
According to the filing, this October PIPE Investment is substantially similar to the Initial PIPE Investment previously disclosed on August 18, 2026. The agreement includes provisions for the Sponsor to transfer up to 313,604 Incentive Founder Shares to the investor at no additional cost, and for Fort Robotics to issue shares of its common stock to the investor that will convert into Newbury Street II shares upon the closing of the business combination.
The filing also references a press release from Fort Robotics, dated October 22, 2026, which announced that the target company has secured approximately $20 million in additional funding. The press release states that Tiger Global is leading a new financing of approximately $10 million, with participation from Mark Cuban Companies, and has committed an additional $10 million to the previously announced common equity PIPE. The filing notes that the total committed capital in connection with the proposed business combination now exceeds $50 million.
Newbury Street II and Fort Robotics have confidentially submitted a draft Registration Statement on Form S-4 to the SEC, which will include a proxy statement and prospectus regarding the proposed business combination.
