Loan & DebtJun 12, 2026, 05:21 PM
Robo.ai Amends Convertible Note Agreement, Issues $2M Note
AI Summary
Robo.ai Inc. amended its Securities Purchase Agreement with an institutional investor on June 5, 2026, to revise terms for its convertible note facility. Pursuant to the amendment, the company issued a Third Note with a principal amount of $2.0 million, generating gross proceeds of $1.84 million. The amendment also outlines the future issuance of a Fourth Note for $11.0 million, contingent on the effectiveness of a resale registration statement and Nasdaq listing compliance. The total aggregate principal amount of Notes available under the agreement remains $80.0 million.
Key Highlights
- Robo.ai Inc. amended its Securities Purchase Agreement on June 5, 2026.
- Issued a Third Note with a $2.0 million principal amount for $1.84 million gross proceeds.
- Agreed to issue a Fourth Note for $11.0 million upon registration statement effectiveness and Nasdaq compliance.
- The aggregate principal amount of Notes under the agreement remains unchanged at $80.0 million.
- Notes are convertible into Class B ordinary shares at a purchase price of $920 per $1,000 principal.
Price Impact
More from AIIO