iRobot Exits Public Markets Following Acquisition and Restructuring

The publicly traded chapter of iRobot's history has concluded. The robotics company is now wholly owned by its Chinese acquirer, Shenzhen PICEA Robotics (Picea), following the completion of its Chapter 11 bankruptcy process. This outcome delivers no compensation to former shareholders, whose equity holdings have been entirely extinguished.

A reorganization plan, confirmed by a U.S. bankruptcy court in Delaware, became effective on January 23. This followed a Restructuring Support Agreement initially announced in December.

The core of the transaction saw Picea acquire 100% of the equity in the reorganized company. For public investors, the consequence was definitive. All previously outstanding shares of iRobot common stock were cancelled, discharged, and extinguished. The legal documents explicitly provided no distribution or recovery for shareholders.

Key outcomes of the restructuring:
* All common shares have been annulled.
* Shareholders receive no compensation.
* iRobot is now a private entity and is no longer required to file reports with the U.S. Securities and Exchange Commission (SEC).

A Staged Departure from Nasdaq

The regulatory delisting from the Nasdaq exchange was largely executed prior to the formal close of the Chapter 11 case.

Should investors sell immediately? Or is it worth buying iRobot?

• On December 22, Nasdaq suspended trading of iRobot securities shortly after the bankruptcy filing.
• January 15 marked the filing of Form 25 with the SEC, formally removing the stock from listing and registration.
• By the end of January, iRobot filed Form 15 to terminate its SEC reporting obligations under the Exchange Act.

Consequently, the former ticker symbol "IRBT" no longer represents a tradable security.

Context: From Amazon's Failed Bid to a Picea Rescue

This transaction ends a turbulent period that intensified after the collapse of the planned acquisition by Amazon in early 2024 due to regulatory opposition. Following that setback, iRobot reportedly faced significant liquidity challenges and mounting competitive pressure.

The solution arrived via Picea, a long-time contract manufacturer and creditor for iRobot. The acquisition was structured to strengthen the company's balance sheet and ensure its operational future. The price for this rescue was the complete elimination of the publicly traded equity.

iRobot continues its operations, product support, and development under its new, private ownership structure—free from SEC reporting requirements and without a publicly listed share.