Overview
- The company filed in the District of Delaware on December 14 under a pre-packaged restructuring targeting completion by February 2026.
- Shenzhen PICEA Robotics and Santrum Hong Kong are set to acquire 100% of the equity and take iRobot private, delisting the stock.
- Picea will extinguish about $264 million in obligations, including roughly $190 million from a 2023 loan and about $74 million owed under manufacturing agreements.
- Existing common shares will be canceled with no recovery, while iRobot says app services, customer support, and payments to employees, vendors, and other suppliers will continue during the process.
- Shares fell more than 70% in premarket trading Monday as the company cited years of pressure from lower-priced rivals, new U.S. tariffs including a 46% levy on Vietnam-made imports, and the collapse of Amazon’s 2024 takeover.