Richtech Robotics Inc. Class B (RR) has released an update.
Richtech Robotics Inc. has entered into a $50 million Standby Equity Purchase Agreement with YA II PN, Ltd., allowing the investor to buy Richtech’s Class B common stock over the next 24 months. The sales price will be slightly discounted from the stock’s lowest average price following each purchase request, with daily and overall ownership limits to prevent the investor from gaining excessive control. Additionally, Richtech can repay advances either in cash or by issuing more stock, and the investor can convert debt to equity at a potentially adjusted price later on. As part of the deal, Richtech is also paying Revere Securities, LLC for financial advisory services.
For further insights into RR stock, check out TipRanks’ Stock Analysis page.
