Richtech Robotics 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