AMC Robotics To Purchase $50 Mln Standby Equity

(RTTNews) - On Friday, AMC Robotics Corp. (AMCI), an AI-driven robotics solutions provider, entered into a $50 million standby equity purchase agreement with an institutional investor. The investor will provide the Company with $3.88 million through Convertible Notes in two installments, subject to certain conditions. The funds are expected to support the construction and production line setup of AMC Robotics' manufacturing facility, which is targeted for completion by November 2026.

On the Nasdaq, the shares were trading 5.06 percent higher at $3.5200.

Under the agreement, AMC Robotics could sell up to $50 million worth of newly issued common shares, subject to certain conditions. The Company must first have an SEC registration statement for the resale of these shares declared effective. Until then, the Company cannot access the available funds or sell the shares.

The Notes would mature one year after issuance and generally be repaid with shares priced at the lower of $4.017 per share or 92% of the lowest daily VWAP over the previous five trading days. The Company can also repay the Notes in cash early, with a 6% prepayment premium.