Richtech Robotics, a leading robotics company, recently revealed plans for a significant offering that is expected to generate $10.5 million in gross proceeds. The company aims to utilize these funds for research and development, with a specific focus on optimizing and developing robots for a variety of vertical applications. In addition to the initial offering, the underwriters have been granted a 45-day option to purchase up to an additional 315,000 shares of Class B common stock at the public offering price.
The offering, scheduled to close on November 21, 2023, is subject to customary closing conditions. Following the completion of the offering, Richtech Robotics shares are anticipated to commence trading on the Nasdaq Capital Market on November 17, 2023, under the symbol “RR.” R. F. Lafferty & Co., Inc. will act as the sole book-running manager for the offering, while Revere Securities LLC will serve as the co-underwriter.
The net proceeds from the sale of shares will be allocated towards critical areas such as research and development, inventory investment, and marketing and promotion. This strategic allocation serves to bolster Richtech Robotics’ capabilities in enhancing their robots for various applications and expanding their market reach. Additionally, a portion of the net proceeds may also be utilized as supplementary working capital, further facilitating the company’s growth initiatives.
It is important to note that up to 1,000,000 shares of Class B common stock may be offered by nine selling stockholders, independent of the company’s offering. These shares can be sold periodically by the selling stockholders, who have not engaged any underwriter for these sales. Notably, Richtech Robotics will not receive any proceeds from the sale of shares by the selling stockholders.
To ensure transparency, a registration statement pertaining to the securities being sold in this offering has been filed with the U.S. Securities and Exchange Commission (SEC). The registration statement became effective on November 13, 2023. For additional information about the offering, interested parties can access a copy of the registration statements on the SEC’s website at www.sec.gov.
Furthermore, it is essential for potential investors to review the prospectus and other relevant documents filed or to be filed by the company with the SEC. These documents provide comprehensive information about Richtech Robotics and the offering itself. A final prospectus related to this offering can be obtained from Equity Capital Markets, R. F. Lafferty & Co., Inc., located at 40 Wall Street, 27th Floor, New York, NY 10005. Alternatively, individuals can contact R. F. Lafferty & Co., Inc. via telephone at 212-293-9090 or through email at [email protected].
Q: What is the purpose of Richtech Robotics’ recent offering?
A: Richtech Robotics aims to raise funds for research and development, with a particular focus on optimizing robots for various vertical applications.
Q: Who will oversee the offering?
A: The offering will be managed by R. F. Lafferty & Co., Inc., acting as the sole book-running manager, alongside co-underwriter Revere Securities LLC.
Q: How can interested parties access the registration statements and prospective documents?
A: Interested individuals can access the registration statements on the U.S. Securities and Exchange Commission’s (SEC) website at www.sec.gov. A final prospectus related to the offering can be obtained from Equity Capital Markets, R. F. Lafferty & Co., Inc., via telephone at 212-293-9090 or email at [email protected].
Q: What will the net proceeds from the offering be used for?
A: The net proceeds will be allocated towards research and development, inventory investment, and marketing and promotion. These funds will enhance Richtech Robotics’ robot optimization and market expansion efforts.
Q: Will Richtech Robotics receive any proceeds from the sale of shares by the selling stockholders?
A: No, the company will not receive any proceeds from the sale of shares by the selling stockholders.