Richtech Robotics prices upsized $21M securities offering [Seeking Alpha]
Richtech Robotics Inc. (RR)
Company Research
Source: Seeking Alpha
The offering includes 15,555,557 shares of its Class B common stock and accompanying warrants to purchase up to 15,555,557 shares of Class B common stock. The combined public offering price is $1.35 per share and accompanying warrant. The warrants will have an exercise price of $1.35 a share, exercisable immediately upon issuance, and will expire on the fifth anniversary of the initial issuance date. The gross proceeds from the offering are expected to be approximately $21 million. Additionally, if all the warrants are exercised in cash, this could potentially bring in another $21 million. However, there is no guarantee that any warrants will be exercised. The net proceeds from this offering are planned to be directed towards working capital and general corporate purposes. This includes advancing the development of our product candidates and acquiring inventory, particularly for robotic hardware. The closing of the offering is expected to occur on or about September 3, 2024.
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News
- Richtech Robotics to Present at the LD Micro Main Event XVIIGlobeNewswire
- Robot-run restaurants are coming to Walmart [Yahoo! Finance]Yahoo! Finance
- Richtech Robotics to open 20 more automated restaurants in Walmarts [Yahoo! Finance]Yahoo! Finance
- Richtech Robotics expands agreement to manage 20 additional Walmart-located restaurants [Seeking Alpha]Seeking Alpha
- Richtech Robotics Expands Agreement with Ghost Kitchens to Manage 20 Additional Walmart-Located Restaurants, Growing its Restaurant Operations ModelGlobeNewswire
RR
Sec Filings
- 11/7/24 - Form S-8
- 10/31/24 - Form 8-K
- 10/31/24 - Form 4
- RR's page on the SEC website