Richtech Robotics Completes $38.7 Million Private Placement, Intends to Use Proceeds for Working Capital and Product Development

Richtech Robotics closed a $38.7 million private placement, selling 8.5 million Class B shares priced at the market under Nasdaq rules. The company will use the net proceeds for working capital, product development, and inventory procurement. The shares were offered in a private placement under Section 4(a)(2) of the Securities Act and have not been registered under the Securities Act or applicable state securities laws. Richtech Robotics develops AI-driven service robots for various industries.