Richtech Robotics announces that it is expanding its restaurant operations model with the signing of a binding Letter of Intent, LOI, with Ghost Kitchens America. Under the terms of the LOI, Richtech Robotics agreed to enter into a franchise agreement with Ghost Kitchens America, pursuant to which the Company will acquire exclusive rights to operate 20 Walmart-located restaurants in Arizona, Colorado, and Texas. These restaurants will be directly managed by Richtech Robotics’ subsidiary, AlphaMax Management, with the aim of optimizing restaurant operations through robotics and AI cloud technology. Each location is expected to generate between $700 thousand and $2 million in annual revenue.
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