iRobot applies for bankruptcy and is privatized, pre-market stock price drops over 70%

AASTOCKS
2025.12.15 13:51

Robot vacuum manufacturer iRobot (IRBT.US) has filed for bankruptcy protection and stated that it will go private after being acquired by its main manufacturer Picea Robotics. The stock price plummeted 71% in pre-market trading on Monday.

According to iRobot's bankruptcy plan, Picea will acquire 100% of the company's equity and cancel the remaining $190 million loan for 2023, as well as the $74 million debt that iRobot owes to Picea under the manufacturing agreement between the two companies.

iRobot stated that the bankruptcy is not expected to affect its app functionality, customer programs, global partnerships, supply chain relationships, or product support

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