India, Sept. 18 -- On Friday, AMC Robotics Corp. (AMCI), an AI-driven robotics solutions provider, entered into a $50 million standby equity purchase agreement with an institutional investor. The investor will provide the Company with $3.88 million through Convertible Notes in two installments, subject to certain conditions. The funds are expected to support the construction and production line setup of AMC Robotics' manufacturing facility, which is targeted for completion by November 2026.
On the Nasdaq, the shares were trading 5.06 percent higher at $3.5200.
Under the agreement, AMC Robotics could sell up to $50 million worth of newly issued common shares, subject to certain conditions. The Company must first have an SEC registration st...