iRobot extends credit agreement covenant waiver to Aug 14; issues warrants, $4M prepayment

IROBOT CORP

Amendment No. 3 extends waiver of going concern and minimum core asset covenants to August 14, 2025.
iRobot must prepay $4 million from restricted cash to reduce term loan principal.
Issued warrants for 1,556,323 shares (5% of outstanding) at $0.01 per share, expiring June 5, 2035.
Auditor's 2024 report includes going concern doubt; company warns default could force bankruptcy if waiver not extended.
Warrants issued in private placement under Section 4(a)(2) of Securities Act; dilutive to existing holders.

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