"may be forced to significantly curtail or cease operations and would likely seek bankruptcy protection."
"following a lengthy period of exclusive negotiations."
"significantly lower than the trading price"
"focused on executing our strategy and delivering for our valued customers, partners, and consumers."
iRobot, once dominant in the robotic vacuum market with Roomba, now faces severe financial strain and the prospect of bankruptcy. The collapse of Amazon’s planned $1.4 billion acquisition in early 2024 exacerbated the company’s troubles. A final potential buyer withdrew after exclusive negotiations, reportedly offering a per-share price significantly lower than recent trading levels. A regulatory filing warned that, without fresh funding, operations could be significantly curtailed or ceased and bankruptcy protection would likely be sought. The company previously indicated substantial doubt about its ability to continue as a going concern while rolling out new products and seeking buyers or capital.
Read at Business Insider
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