Richtech has simultaneously terminated its earlier ATM arrangement involving Rodman, Wainwright, and BTIG LLC, effective September 12.
Richtech Robotics Inc. (RR) on Thursday announced a new at-the-market (ATM) equity offering, granting it the ability to sell up to $100 million worth of its Class B common stock.
Under the new agreement, the company will work with Rodman & Renshaw LLC and H.C. Wainwright & Co. LLC as designated agents to facilitate sales through the Nasdaq Capital Market and other trading venues. Richtech will sell shares directly into the open market at prevailing prices or through negotiated deals.
Richtech Robotics stock traded over 6% lower in Thursday’s premarket. On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels.
The stock saw a 917% surge in user message count over the past seven days. A Stocktwits user expressed confidence in the company.
Another user highlighted the fact that the firm ‘currently holds roughly 100 million in cash and short-term investments with little to no debt.’
Rodman, acting as lead agent, will earn a 3% commission on the gross proceeds of any stock sold. Additionally, Rodman is appointed as the exclusive sales agent for any future ATM offerings initiated by Richtech over the next 12 months.
Richtech simultaneously terminated its earlier ATM arrangement involving Rodman, Wainwright, and BTIG LLC. The termination will take effect on September 12. The company develops robots tailored for the service industry, with a focus on hospitality and healthcare sectors. On Monday, the company, in a post on X, said it is one of the first to adopt Nvidia’s Jetson Thor robotics platform.
Richtech Robotics’ stock has gained over 22% year-to-date and over 128% in the last 12 months.
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