04:00 AM EDT, 08/30/2024 (MT Newswires) -- Richtech Robotics ( RR ) said late Thursday it has priced an upsized public offering of about 15.6 million shares of its class B common stock and warrants to purchase up to about 15.6 million class B common shares at a combined price of $1.35 per share and accompanying warrant for total expected gross proceeds of about $21 million.

The warrants will be exercisable at a price of $1.35 per share.

Net proceeds will be used for working capital, general corporate purposes, and procurement of inventory, the company said.

The offering is expected to close on or about Sept. 3, 2024, subject to customary closing conditions.

Price: 1.4785, Change: +0.03, Percent Change: +1.97