AMC Robotics Secures Up to $50M Equity Facility to Fund Robot Manufacturing Plant
aiinsider ·
AMC Robotics announced a standby equity purchase agreement of up to $50 million to help finance the construction and commissioning of its robotic manufacturing facility, which is expected to be completed by November 2026. An institutional investor also agreed to lend the company $3.88 million through convertible promissory notes issued in two tranches, subject to certain conditions. The financing proceeds are expected to support the facility buildout and production-line commissioning. The agreement gives AMC Robotics the right, but not the obligation, to sell up to $50 million of newly issued common stock, although it cannot access the equity financing until a resale registration statement is filed with and declared effective by the SEC. The convertible notes mature one year after issuance and may be repaid in shares at the lower of $4.017 per share or 92% of the lowest daily volume-weighted average price during the preceding five trading days. AMC Robotics may also repay the notes in cash before maturity with a 6% prepayment premium, while the investor can require the company to issue shares up to the outstanding note balance.
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