Richtech Robotics Inc. entered into a standby equity purchase agreement with new investor YA II PN, Ltd., a fund managed by Yorkville Advisors Global LP for issuance of class B common shares for gross proceeds of $50 million on February 15, 2024. The company will receive funding in 24 months period. The purchase agreement will terminate automatically on the earlier of February 16, 2026, or when the investor has purchased an aggregate of $50 million of the company?s shares of common stock.

The company has the right to terminate the purchase agreement upon five trading days? prior written notice to the investor, subject to certain conditions.