Richtech Robotics announces that it is expanding its restaurant operations model with the signing of a binding Letter of Intent, LOI, with Ghost Kitchens America. Under the terms of the LOI, Richtech Robotics agreed to enter into a franchise agreement with Ghost Kitchens America, pursuant to which the Company will acquire exclusive rights to operate 20 Walmart-located restaurants in Arizona, Colorado, and Texas. These restaurants will be directly managed by Richtech Robotics’ subsidiary, AlphaMax Management, with the aim of optimizing restaurant operations through robotics and AI cloud technology. Each location is expected to generate between $700 thousand and $2 million in annual revenue.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RR:
- Richtech Robotics signs distribution agreement with Sproutmation
- Richtech Robotics showcases Titan work at Mercedes-Benz of Cutler Bay
- Richtech Robotics prices upsized $21M public offering at $1.35 per share
- Richtech Robotics files to sell 14.5M shares of Class B common stock, warrants
- Richtech Robotics announces ADAM installation at One Kitchen
