: Richtech Robotics sets $4-$6 price range in microcap IPO

Richtech Robotics Inc. said Friday it plans to offer 3 million Class B shares at $4 to $6 a share in its upcoming initial public offering on the Nasdaq under the symbol RR. The Las Vegas-based maker of robots for performing cleaning and other duties at restaurants, hotels, senior-living centers and casinos will raise $15 million with underwriter Pacific Century Securities at the midpoint of the IPO’s price range. The company will have about 65.7 million Class A and Class B shares outstanding when it goes public, giving it a market cap of about $328 million at an IPO price of $5 a share. Richtech reported a net loss of $2.5 million and revenue of $3.4 million in the nine months ended June 30, compared to a net loss of $1.9 million and revenue of $2.1 million in the year-ago period.

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