iRobot (IRBT) has released an update to notify the public and investors about a termination of a material definitive agreement.
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iRobot Corporation had an original merger agreement with Amazon and its subsidiary, which was later amended. However, the merger agreement was mutually terminated by both companies on January 28, 2024. Following the termination, Amazon will pay iRobot a termination fee of $94 million, which will be the only remedy for iRobot, with both parties waiving any further claims. The details of these agreements are referenced in previously filed documents and attached exhibits.
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