Richtech Robotics (RR) disclosed that it entered into a master services agreement on August 21 “with one of the largest retailers in the world,” pursuant to which the company shall work on projects under additional statements of work. The agreement has a term of two years and will automatically renew for additional 12 month periods unless either party notices the other party in writing of its intent not to review 60 days prior to the expiration of the term. The agreement also contains other customary provisions, including intellectual property and confidentiality, Richtech says. The stock in premarket trading is up 4% to $2.18.
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