Richtech Robotics enters $50M standby equity purchase agreement with YA II PN

RICHTECH ROBOTICS INC.

Purchase agreement allows up to $50M in Common Stock over 24 months at 96% of 3-day VWAP.
First $1M pre-advance via convertible note with 4% discount, 8% interest; up to $3M total pre-advances.
Issued 259.350 commitment shares to investor and paid $25K structuring fee.
Company entered financial advisory agreement with Revere Securities ($25K/month for 6 months).
Ownership limited to 4.99% and Exchange Cap of 19.99% of outstanding shares, subject to Nasdaq rules.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RICHTECH ROBOTICS INC. entered into Standby Equity Purchase Agreement with YA II PN, Ltd. valued at up to $50 million (effective 2024-02-15).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, Ltd.
Value: up to $50 million
Effective: 2024-02-15

Exact text from the filing

On February 15, 2024, Richtech Robotics Inc., a Nevada corporation (the “ Company ”) , entered into a Standby Equity Purchase Agreement (the “ Purchase Agreement ”) with YA II PN, Ltd. (the “ Investor ”), pursuant to which the Investor has agreed to purchase up to $50 million of the Company’s shares of Class B common stock, par value of $0.0001 per share (the “ Common Stock ”) over the course of 24 months after the date of the Purchase Agreement.

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119 material agreements filed in the last 30 days. Browse all material agreements →

RICHTECH ROBOTICS INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-015755

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