(Bloomberg) – IROBOT Corp. slipped. , The consumer robotics company that planned for Amazon.com Inc. Once more than a billion dollars, on Wednesday, after “doubt” about its ability to continue working.
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Bedford, Massachusetts, headquartered by Massachusetts, has warned its profits that there is doubt whether it could continue as a constant takeoff. The company’s board of directors has started an official review of options evaluation, including re -financing its debts and exploring a possible sale, according to the statement. The shares decreased by 26 % in the pre -market trade.
Amazon abandoned her plans to buy the Roba maker last year after engaging with European Union organizers who threatened to prevent the deal, indicating the severe pressure that the technology giant faced from anti -monopoly organizers on both sides of the Atlantic Ocean. The repercussions of IROBOT, which were already struggling, were fast. Its shares fell more than years, and the company’s market value was less than $ 200 million as of Tuesday.
Carlyle Group Inc. A $ 200 million loan through her private credit arm 2023 to IROBOT, which was burning money at that time. Funding was supposed to aim to provide the company with some liquidity while the anti -monopoly organizations reviewed the acquisition of the planned Amazon.
Since the Amazon deal has never been achieved, Carlyle is still sticking to debt. The lender was able to impose fees on a percentage of 9 percentage points on the content of the guaranteed financing overnight, which is much higher than the standards on direct loans when it was ink.
The company pays fees to modify the loan, according to a report on Wednesday. This will include $ 3.6 million, or about 2 % of the total loans due, which will be paid with additional debts.
The company announced a net loss of $ 77.1 million in the fourth quarter ending on December 28, according to a statement on Wednesday. At the end of the year, IROBOT retained $ 134 million in cash or the cash equation, an increase from the previous quarter, but it decreased from the level of last year. This number includes a $ 40 million equalizer of the restricted cash that IROBOT said it is planning to use to buy inventory.
IROBOT recorded a 44 % slide in the fourth quarter of the previous year, due to the decrease in promotional spending, the timing of requests from its largest customer for the holiday season and “continuous competitive challenges that the company addresses” with the launch of new products.
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