02:04 PM EDT, 03/18/2024 (MT Newswires) -- Richtech Robotics ( RR ) on Monday filed a registration statement with the US Securities and Exchange Commission for the potential sale of up to about 13 million class B common stock by selling shareholder YA II PN.

The sale is linked to a standby share purchase agreement between Richtech and YA II, which covers the purchase of up to $50 million of Richtech class B stock over 24 months, according to the filing.

The company said it will not receive any proceeds from the sale of class B shares by the selling shareholder, however, net proceeds from the share purchase agreement will be used to make any payments due under an outstanding note, for capital expenditures, general corporate purposes, working capital, and general and administrative expenses.

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