Richtech Robotics enters up to $50M standby equity purchase agreement with YA II PN, Ltd.

RICHTECH ROBOTICS INC.

Purchase Agreement: YA II PN will buy up to $50M of Class B common stock over 24 months at 96% of 3-day VWAP.
First Pre-Advance of $1M received Feb 15, 2024 at 4% discount; 8% annual interest; convertible at $6/share, subject to downward reset on May 28, 2024.
Revere Securities will receive $25K/month for 6 months plus 7% finder's fee on Pre-Advances and 4% on Advances.
Issued 259,350 commitment shares as fee; structuring fee of $25K paid to investor subsidiary.
Investor cannot exceed 4.99% beneficial ownership per advance; Exchange Cap of 19.99% applies unless stockholder approval obtained.

Key facts

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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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Source: SEC EDGAR

accession 0001213900-24-023048

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