Tiger Brokers

BUZZ-Richtech Robotics slides on $100 mln stock offering plans

Reuters
May 19
BUZZ-<a href="https://laohu8.com/S/RR">Richtech Robotics</a> slides on $100 mln stock offering plans

** Richtech Robotics' RR.O shares down 8.9% premarket to $2.35 as co looks to raise equity

** Maker of robots for restaurants, hotels, senior living homes and other businesses late Fri filed $100 mln ATM (at-the-market) stock offering agreement with Rodman & Renshaw, BTIG and H.C. Wainwright

** Las-Vegas, Nevada-based firm plans to use net proceeds for working capital, general purposes

** Co has ~114.8 mln shares outstanding for nearly $300 mln market cap

** From research coverage perspective, just H.C. Wainwright and Lake Street Capital cover RR, both with "buy" ratings, and PTs of $3.50 and $3.00, respectively, per LSEG data

** Through Fri close, RR down ~4% YTD. Stock was trading around $1.30 a year ago

** Richtech went public in Nov 2023 in $10.5 mln IPO at $5/sh

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10