Richtech Robotics Enters Into Franchise Agreement with Ghost Kitchens America.

Richtech Robotics Inc. (NASDAQ: RR) recently announced a significant development in its operations with the signing of a Letter of Intent (LOI) with Ghost Kitchens America on October 16, 2024.

Per the terms of the LOI, Richtech Robotics will secure exclusive rights to oversee 20 “One Kitchen” restaurants located within Walmart stores in Arizona, Colorado, and Texas. These restaurant operations will be managed by the company’s subsidiary, AlphaMax Management LLC. The goal is to enhance restaurant efficiency through the integration of robotics and AI cloud technology.

It is important to note that the specific details of the agreement are outlined in the LOI itself, which has been included as Exhibit 10.1 in Richtech Robotics’ current report on Form 8-K filed with the Securities and Exchange Commission.

In a parallel event on October 17, 2024, Richtech Robotics released a press statement revealing the execution of the LOI. This press release is available for reference as Exhibit 99.1 in the same Form 8-K submission to the SEC.

Looking ahead, as Richtech Robotics pursues this new venture, it acknowledges the presence of forward-looking statements within the scope of the agreement. These statements are grounded in the belief of the Company’s management and current available information but are subject to certain risks and uncertainties, as detailed in previous filings with the SEC.

Furthermore, as an emerging growth company, Richtech Robotics remains committed to adhering to all legal and financial reporting requirements. The Company takes responsibility for ensuring that all future communications regarding this agreement, as well as any consequent updates or changes, adhere to regulatory guidelines and standards.

For further insights and specific details on this development, interested parties can refer to Richtech Robotics’ Form 8-K filing, which includes the full text of the LOI and related press release.

In conjunction with this announcement, Richtech Robotics filed necessary exhibits with the SEC, including the LOI and press release, which are available for public access for a comprehensive understanding of the recent agreement’s scope and implications.END

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Richtech Robotics’s 8K filing here.

About Richtech Robotics

Richtech Robotics Inc develops, manufactures, deploys, and sells robotic solutions for automation in the service industry. The company offers indoor transport and delivery, sanitation, and food and beverage automation solutions, such as ADAM and ARM worker robots; delivery robots, including Matradee, Matradee X, Matradee L, Richie, and Robbie; and cleaning robots comprising DUST-E SX, and DUST-E MX, as well as accessories, such as bus tubs, cup holders, magnetic tray cases, smartwatches, table location systems, and tray covers.