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Richtech Robotics Inc. (NASDAQ:RR) shares were trading lower Thursday after the company announced it had entered into a $100 million at-the-market equity offering.
Find out what RR shares are doing here.
What To Know: The agreement was signed with Rodman & Renshaw LLC, acting as lead agent, and H.C. Wainwright & Co., with both firms authorized to sell shares of Richtech's Class B common stock directly into the open market.
The sales will be conducted under the company's shelf registration statement that was declared effective in May 2025 and updated with a prospectus supplement filed on Aug. 28.
The agents may sell shares in a variety of ways, including transactions on the Nasdaq Capital Market, through market makers, or directly with investors. Richtech agreed to pay Rodman a commission of 3% on the gross proceeds of any sales, along with expense reimbursements and standard indemnification rights.
The company noted that it is not obligated to sell any specific number of shares, and the timing and size of sales will depend on market conditions and company instructions. However, the announcement raises the possibility of significant dilution if the full $100 million is raised.
The decline in RR stock reflects investor concern that the additional supply of shares could weigh on existing shareholder value, even as the company seeks new funding to support its operations and expansion plans.
RR Price Action: Richtech shares closed Thursday down 6.50% at $3.10, according to Benzinga Pro.
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Posted In: RR
