Richtech Robotics Inc-B - RR STOCK NEWS

Richtech Robotics Inc. (Nasdaq: RR), an AI-driven service robot provider, has announced the pricing of an upsized $21 million public offering. The offering includes 15,555,557 shares of Class B common stock (or equivalents) and warrants to purchase an equal number of shares, priced at $1.35 per share and accompanying warrant. The warrants have an exercise price of $1.35 per share, are immediately exercisable, and expire in five years. The offering is expected to close around September 3, 2024. Rodman & Renshaw is the exclusive placement agent. Richtech Robotics plans to use the proceeds for working capital, product development, and inventory procurement, specifically for robotic hardware.

Richtech Robotics (Nasdaq: RR) has announced the installation of its ADAM robotic beverage system at a One Kitchen in a Rockford, IL Walmart, marking the first humanoid drink robot in Illinois. This is part of a planned 240-location rollout across the U.S. The installation also includes Matradee L and DUST-E S robots.

The company has launched AlphaMax Management, a new subsidiary to optimize robot integration into clients' businesses. AlphaMax will manage the commercial workflow of One Kitchen restaurants within Walmart, integrating robot operations with traditional restaurant operations, and providing data analysis and AI integration.

ADAM began operations on August 16th, 2024, serving 100-200 cups of coffee and tea daily through an integrated touchscreen POS system. Richtech Robotics will handle programming and maintenance, while One Kitchen manages staff and location logistics.

Richtech Robotics Inc. (Nasdaq: RR) has installed its AI-driven service robot ADAM at the Texas Rangers' Globe Life Field, marking the first humanoid bartender in a major league sports arena. This collaboration with Delaware North represents ADAM's 10th permanent installation. ADAM debuted at the 2024 MLB All-Star Game, serving nearly 500 beverages in its first week of operation.

ADAM combines AI, advanced sensors, and two robotic arms to emulate human actions accurately. It aims to create a more efficient workstream, allowing stadium workers to focus on enhancing fan experiences. The robot will be permanently located at a concessions bar near Section 111, offering a menu of classic cocktails and mocktails.

Richtech Robotics (Nasdaq: RR) has successfully installed its AI-driven robotic beverage system, ADAM, at a Ghost Kitchens location inside a Walmart in Dawsonville, GA. This marks the beginning of a planned 240-location rollout across the US. ADAM, which began operations on June 13th, 2024, serves various coffee drinks, including the popular Iced Foamy Hazelnut Latte.

The installation aims to demonstrate ADAM's ability to deliver consistent, high-quality beverages while improving operational efficiency. Richtech Robotics and Ghost Kitchens have signed a non-binding Letter of Intent for this expansion, with Richtech handling programming and maintenance, while Ghost Kitchens manages staff and logistics. This partnership is expected to enhance customer experience and drive success for both companies.

MetaDolce Technologies has been named an authorized U.S. reseller by Richtech Robotics (Nasdaq: RR). Richtech recently introduced Medbot, an elevator-enabled robot designed for continuous medical delivery in hospitals and pharmacies. MetaDolce will market and sell Medbot in the U.S. starting Q2 2024 through its servicerobotics.ai website. Richtech's Medbot aims to address staff shortages by providing reliable and secure medical deliveries, freeing up hospital and pharmacy staff for more critical tasks. MetaDolce's role is to co-market and assist with the placement of Medbot in various U.S. medical and pharmacy operations.

Richtech Robotics has launched Medbot, a robot designed to improve efficiency in healthcare facilities by automating medication deliveries. Medbot addresses the nationwide shortage of pharmacy staff by providing uninterrupted, 24/7 medication delivery with high operational accuracy. It reduces operating costs and enhances patient experience by allowing pharmacy technicians to focus on more critical tasks. Key features include elevator integration, multiple storage spaces, versatile navigation, and advanced sensors. Medbot has shown a 100% delivery success rate in various healthcare settings.

Richtech Robotics Inc. announces a joint venture with Zipphaus Corp. to launch robot-operated cafes in hospitals, airports, and schools. The JV, Zipphaus Plus, , aims to deploy Richtech's ADAM robot alongside Zipphaus' cafe management expertise, starting with flagship cafes in major hospitals. Richtech will provide and maintain ADAM robots, while Zipphaus will handle daily cafe operations.

Richtech Robotics Inc. (Nasdaq: RR) announces a non-binding Letter of Intent with Ghost Kitchens International Inc. to launch 240 ADAM robotic beverage systems at Ghost Kitchens restaurants, some of which are located inside Walmart stores. ADAM, Richtech’s premiere robotic solution, will execute complex barista tasks with human-like precision. The announcement follows recent company milestones, including its November 22nd IPO and the launch of AI enhancements for its robot ADAM. ADAM’s newest AI capabilities allow it to engage in sophisticated conversations with customers and emulate human actions with exceptional accuracy. This collaboration aims to improve operational capabilities, enhance efficiency, and increase customer engagement at Ghost Kitchen’s Walmart locations.

Richtech Robotics Inc. (Nasdaq: RR) announces advanced AI capabilities for its robotic solution ADAM at the Consumer Electronics Show (CES) 2024. This new AI empowers ADAM to execute complex tasks with remarkable human-like precision, revolutionizing its capabilities beyond its role as a robot bartender, barista, or boba tea maker. The company aims to enhance efficiency in task execution and create a more engaging and fluid interaction between ADAM and customers. The new capabilities aim to elevate personalized interactions and significantly enhance efficiency, facilitating quicker service and seamless integration of robots across various settings. Richtech Robotics completed its IPO in November 2023 and addresses a critical need within the $4.7 trillion U.S. hospitality market, which is forecasted to reach $5.8 trillion by 2027.