Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of iRobot Corporation regarding a class action lawsuit due to alleged misleading statements made by the company during a specified class period [1][3]. Group 1: Allegations - The complaint alleges that iRobot overstated the effectiveness of its restructuring plan following the termination of the Amazon acquisition [3]. - It is claimed that iRobot is unlikely to operate profitably as a standalone company, raising doubts about its ability to continue as a going concern [3]. - The defendants' public statements are described as materially false and misleading throughout the relevant period [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as January 29, 2024, to March 11, 2025 [3]. - Shareholders are encouraged to register for the class action by the deadline of September 5, 2025, to potentially become lead plaintiffs [4]. - Participants will receive updates through a portfolio monitoring software once registered [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].

[Amendment No. 4 to Credit Agreement](index=1&type=section&id=Amendment%20No.%204%20to%20Credit%20Agreement) [Introduction and Effectiveness](index=1&type=section&id=Introduction%20and%20Effectiveness) This fourth amendment to the July 24, 2023 Credit Agreement is enacted at the Borrower's request and is effective upon meeting specific conditions - This is the **fourth amendment** to the Credit Agreement dated July 24, 2023, entered into by iRobot Corporation as the Borrower and TCG Senior Funding L.L.C. as the Agent[2](index=2&type=chunk)[4](index=4&type=chunk) - The effectiveness of this amendment is contingent upon due execution by all parties, the **absence of any Default or Event of Default**, and the payment of all outstanding fees and expenses[9](index=9&type=chunk) [Representations, Warranties, and General Provisions](index=2&type=section&id=Representations%2C%20Warranties%2C%20and%20General%20Provisions) Loan Parties confirm their authority, reaffirm obligations, release claims against Lenders, and establish New York law as the governing jurisdiction - Each Loan Party represents and warrants that the execution and performance of this amendment are **within its corporate powers** and have been duly authorized[10](index=10&type=chunk) - Except for the specific changes outlined, the original Credit Agreement and other Loan Documents **remain unmodified and in full force and effect**[12](index=12&type=chunk) - The Loan Parties provide a **general release**, discharging the Agent and Lenders from any claims existing before the amendment's effective date, except those arising from gross negligence or willful misconduct[16](index=16&type=chunk) - The amendment and any related disputes shall be **governed by and construed in accordance with the laws of the State of New York**[19](index=19&type=chunk) [Signatories](index=6&type=section&id=Signatories) The amendment is executed by authorized representatives of the Borrower, Guarantors, the Administrative Agent, and all Lenders - The amendment is signed by **Gary Cohen, Chief Executive Officer of iRobot Corporation**[25](index=25&type=chunk) - Guarantors include iRobot US Holdings, LLC, iRobot UK Ltd, iRobot France, iRobot Iberia SLU, and iRobot Japan G.K[26](index=26&type=chunk)[27](index=27&type=chunk) - TCG Senior Funding L.L.C. signs as the Administrative Agent, and various Carlyle-affiliated funds and other entities sign as Lenders[28](index=28&type=chunk)[29](index=29&type=chunk)[31](index=31&type=chunk) [Amended Credit Agreement](index=14&type=section&id=Amended%20Credit%20Agreement) [ARTICLE I: DEFINITIONS AND ACCOUNTING TERMS](index=20&type=section&id=ARTICLE%20I%20DEFINITIONS%20AND%20ACCOUNTING%20TERMS) This article defines key terms, financial metrics, and roles, and establishes U.S. GAAP as the accounting standard for the agreement - The agreement provides a comprehensive set of definitions for terms used throughout the document, including financial, legal, and operational terminology[58](index=58&type=chunk) - A **"Change of Control"** is defined to occur if any person or group acquires beneficial ownership of **more than 35%** of the Borrower's voting stock[151](index=151&type=chunk) - The **"Maturity Date"** for the loan is the third anniversary of the Closing Date, which was July 24, 2023[290](index=290&type=chunk) - All accounting terms are to be construed in conformity with **U.S. Generally Accepted Accounting Principles (GAAP)**, and financial calculations must be prepared accordingly[464](index=464&type=chunk) [ARTICLE II: THE COMMITMENTS AND CREDIT EXTENSIONS](index=93&type=section&id=ARTICLE%20II%20THE%20COMMITMENTS%20AND%20CREDIT%20EXTENSIONS) This article details the $200 million senior secured term loan, including borrowing procedures, interest, repayments, and fee structures Credit Facility Details | Term | Detail | | :--- | :--- | | **Facility Type** | Senior Secured Term Loan | | **Total Commitment** | $200,000,000 | | **Funding Date** | July 25, 2023 | | **Repayment** | Full principal due on the Maturity Date (3rd anniversary of Closing Date) | Interest and Fees | Item | Rate/Amount | | :--- | :--- | | **Applicable Rate (SOFR Loans)** | 9.00% per annum | | **Applicable Rate (Base Rate Loans)** | 8.00% per annum | | **PIK Interest Rate** | 2.50% per annum (paid in-kind, added to principal) | | **Cash Interest Rate** | Applicable Rate minus PIK Interest Rate | | **MOIC Premium** | Varies from 1.30x to 1.75x of principal, depending on timing and Amazon acquisition status | - Mandatory prepayments are required from **100% of net cash proceeds** from asset sales exceeding **$1.5 million** and from the issuance of other indebtedness[496](index=496&type=chunk)[497](index=497&type=chunk) - Specific rules govern the application of the "Amazon Break Fee" if received, starting with a **mandatory $35 million prepayment** of the loans[498](index=498&type=chunk) [ARTICLE III: TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY](index=117&type=section&id=ARTICLE%20III%20TAXES%2C%20INCREASED%20COSTS%20PROTECTION%20AND%20ILLEGALITY) This article protects Lenders from financial burdens by addressing tax withholdings, increased costs, and benchmark rate unavailability - The Borrower must make all payments without deduction for Taxes or **pay additional amounts** to ensure the Lender receives the full sum[573](index=573&type=chunk) - If changes in law increase a Lender's cost to maintain its loan, the Borrower must **compensate for such increased costs**[595](index=595&type=chunk)[596](index=596&type=chunk) - The agreement includes provisions to replace the benchmark interest rate (Term SOFR) with a **"Benchmark Replacement"** if a "Benchmark Transition Event" occurs[587](index=587&type=chunk) - The Borrower has the right to **replace any Lender** that requests compensation, becomes a Defaulting Lender, or is a "Non-Consenting Lender"[608](index=608&type=chunk) [ARTICLE IV: CONDITIONS PRECEDENT TO CREDIT EXTENSIONS](index=127&type=section&id=ARTICLE%20IV%20CONDITIONS%20PRECEDENT%20TO%20CREDIT%20EXTENSIONS) This article specifies conditions for the agreement's effectiveness, including executed documents, perfected security interests, and key third-party consents - Conditions for effectiveness included the delivery of executed Loan Documents, legal opinions, a solvency certificate, and **perfection of security interests** via UCC-1 filings[614](index=614&type=chunk)[615](index=615&type=chunk)[618](index=618&type=chunk) - A critical condition was the **termination of the Existing Credit Agreement** and the release of all associated liens[623](index=623&type=chunk) - The Borrower was required to obtain and deliver a **consent from Amazon**, in relation to the Amazon Acquisition Agreement, permitting the new financing[625](index=625&type=chunk) [ARTICLE V: REPRESENTATIONS AND WARRANTIES](index=131&type=section&id=ARTICLE%20V%20REPRESENTATIONS%20AND%20WARRANTIES) This article contains statements of fact from the Loan Parties regarding their legal status, financial accuracy, and compliance with laws - The Loan Parties represent they are duly organized and have the power to execute the Loan Documents without contravening laws or organizational documents[631](index=631&type=chunk)[632](index=632&type=chunk) - The Borrower represents that its financial statements **fairly present its financial condition** and that no Material Adverse Effect has occurred[636](index=636&type=chunk)[639](index=639&type=chunk) - The company represents compliance with key regulations, including **Sanctions Laws, OFAC, and Anti-Corruption Laws**[653](index=653&type=chunk)[661](index=661&type=chunk)[665](index=665&type=chunk) - On the Closing Date, the Borrower and its subsidiaries, on a consolidated basis, are represented to be **Solvent**[659](index=659&type=chunk) [ARTICLE VI: AFFIRMATIVE COVENANTS](index=139&type=section&id=ARTICLE%20VI%20AFFIRMATIVE%20COVENANTS) This article outlines the Borrower's ongoing obligations, including financial reporting, notice of defaults, and maintenance of corporate status and assets - The Borrower must deliver **audited annual, unaudited quarterly, and monthly financial reports** and a Compliance Certificate[673](index=673&type=chunk)[675](index=675&type=chunk)[681](index=681&type=chunk) - The Borrower is required to **promptly notify the Administrative Agent** upon the occurrence of any Default or Event of Default[689](index=689&type=chunk) - The company must maintain its legal existence, properties, and **adequate insurance coverage**[693](index=693&type=chunk)[695](index=695&type=chunk)[696](index=696&type=chunk) - New subsidiaries in an Applicable Jurisdiction must **become a Guarantor** and provide collateral within a specified timeframe[704](index=704&type=chunk) [ARTICLE VII: NEGATIVE COVENANTS](index=153&type=section&id=ARTICLE%20VII%20NEGATIVE%20COVENANTS) This article restricts the Borrower's ability to incur debt, grant liens, sell assets, or make restricted payments to protect Lender interests - The Borrower is prohibited from incurring additional Indebtedness or creating Liens on its assets, except as specifically permitted[717](index=717&type=chunk)[728](index=728&type=chunk) - The company cannot make any Asset Sale unless it receives at least **75% cash consideration** at fair market value and the aggregate value does not exceed **$1,000,000**[735](index=735&type=chunk) - **Restricted Payments**, including dividends and stock repurchases, are generally prohibited subject to specific exceptions[738](index=738&type=chunk) - The Borrower must maintain **Consolidated Core Assets of at least $250,000,000**, tested monthly, with this threshold subject to reduction based on certain prepayments[753](index=753&type=chunk) [ARTICLE VIII: EVENTS OF DEFAULT AND REMEDIES](index=172&type=section&id=ARTICLE%20VIII%20EVENTS%20OF%20DEFAULT%20AND%20REMEDIES) This article defines Events of Default and specifies the Lenders' right to accelerate the loan and demand immediate repayment - Events of Default include **non-payment**, failure to comply with covenants (notably the **Minimum Core Assets Test**), misrepresentations, and bankruptcy[771](index=771&type=chunk) - A cross-default is triggered by payment failure on other indebtedness with an aggregate principal amount of **$1.5 million or more**[773](index=773&type=chunk) - A **Change of Control** is also an Event of Default[776](index=776&type=chunk) - Upon an Event of Default, the Agent may declare the entire unpaid principal, accrued interest, and all other amounts **immediately due and payable**[778](index=778&type=chunk) [ARTICLE IX: ADMINISTRATIVE AGENT AND OTHER AGENTS](index=178&type=section&id=ARTICLE%20IX%20ADMINISTRATIVE%20AGENT%20AND%20OTHER%20AGENTS) This article outlines the authority and duties of the Administrative Agent, protecting it from liability except in cases of gross negligence - Each Lender irrevocably **appoints TCG to act as the Administrative Agent and Collateral Agent**, authorizing it to take actions on their behalf[785](index=785&type=chunk)[786](index=786&type=chunk) - The Agent is **exculpated from liability** for any action taken or omitted, except for its own gross negligence, bad faith, or willful misconduct[789](index=789&type=chunk) - The Agent is authorized to **release collateral or guarantors** in connection with transactions permitted by the agreement[807](index=807&type=chunk) - A detailed **"Erroneous Payments" clause** requires any recipient to immediately return any funds mistakenly sent by the Administrative Agent[821](index=821&type=chunk) [ARTICLE X: MISCELLANEOUS](index=194&type=section&id=ARTICLE%20X%20MISCELLANEOUS) This final article contains standard legal clauses covering amendments, notices, governing law, and assignment of loans - Amendments generally require the written consent of the **Required Lenders (holding more than 50% of the loans)** and the Borrower[833](index=833&type=chunk) - The agreement is **governed by the laws of the State of New York**, and all parties submit to the exclusive jurisdiction of New York courts[891](index=891&type=chunk)[892](index=892&type=chunk) - All parties to the agreement irrevocably **waive their right to a trial by jury** for any claim arising from the Loan Documents[896](index=896&type=chunk) - Lenders may assign their rights to Eligible Assignees but require the **Borrower's consent** unless a Specified Event of Default has occurred[857](index=857&type=chunk)[858](index=858&type=chunk)[859](index=859&type=chunk)

Core Insights - iRobot Corp reported disappointing second quarter results for 2025, with revenue of $127.6 million, a decline of 23.3% from $166.4 million in Q2 2024, attributed to market challenges and production delays [3][11] - The company achieved a GAAP gross margin of 30.0%, significantly improved from 16.5% in the previous year, indicating progress in cost management despite revenue decline [3][11] - iRobot's cash position decreased to $40.6 million from $69.9 million in the previous quarter, raising concerns about liquidity as the company continues to support new product launches [2][11] Financial Performance - Revenue for Q2 2025 was $127.6 million, down from $166.4 million in Q2 2024, with notable declines in the U.S. (33%) and EMEA (17%), while Japan saw a 6% increase [3][11] - GAAP operating loss improved to $36.7 million from $61.1 million year-over-year, and non-GAAP operating loss decreased to $27.0 million from $48.2 million [3][11] - Net loss per share was $0.68, a significant improvement from $2.41 in Q2 2024, reflecting better operational efficiency [3][11] Strategic Initiatives - The Board of Directors is reviewing strategic alternatives, including potential sales or refinancing options, with no set timetable for completion [8][9] - iRobot is actively engaging with its primary lender to amend existing loan terms, extending the covenant waiver to September 19, 2025 [10][11] - The company launched a new marketing campaign and introduced the Roomba Max 705 Combo Robot, aiming to enhance product visibility and consumer engagement [11][12] Operational Highlights - As of June 28, 2025, iRobot's inventory was $88.2 million, a 13% reduction from the previous year, indicating improved inventory management [11] - The company shipped 516 robot units in Q2 2025, a decrease from 574 units in Q2 2024, reflecting the impact of market conditions on sales [18][19] - iRobot's products were featured prominently during Amazon's Prime Day, ranking as the top-selling robot vacuum cleaners [11][12]

NEW YORK, Aug. 06, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of iRobot Corporation (NASDAQ: IRBT) between January 29, 2024 and March 11, 2025, both dates inclusive (the "Class Period"), of the important September 5, 2025 lead plaintiff deadline. SO WHAT: If you purchased iRobot securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. ...

Core Viewpoint - A class action securities lawsuit has been filed against iRobot Corporation, alleging securities fraud that affected investors between January 29, 2024, and March 11, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that iRobot overstated the effectiveness of its restructuring plan following the termination of the Amazon acquisition, leading to doubts about its ability to operate profitably as a standalone company [2]. - It is alleged that the public statements made by the defendants were materially false and misleading, raising concerns about the company's ability to continue as a going concern [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until September 5, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving in this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the United States [4].

Core Viewpoint - A class action lawsuit has been filed against iRobot Corporation and certain officers for alleged violations of federal securities laws during the Class Period from January 29, 2024, to March 11, 2025, seeking damages for affected investors [1][2]. Company Overview - iRobot designs, builds, and sells robots and home innovation products globally, primarily known for its Roomba robot vacuum cleaner [4]. - The company has faced declining business performance over the past decade, with market share dropping from 64% in 2016 to 46% in 2020 due to competition from lower-priced alternatives [5]. Recent Developments - In August 2022, iRobot entered a merger agreement with Amazon for $61 per share, valued at approximately $1.7 billion, but the deal was terminated in January 2024 due to regulatory concerns [6]. - Following the termination, iRobot announced significant layoffs, cutting approximately 350 employees, or 31% of its workforce, and a restructuring plan aimed at stabilizing the company [7]. Financial Performance - iRobot reported a loss of $2.06 per share on revenue of $172 million for Q4 2024, marking a 44% year-over-year decline [9]. - The company expressed substantial doubt about its ability to continue as a going concern for at least 12 months following the issuance of its 2024 financial statements [9]. Market Reaction - Following the negative financial results and outlook, iRobot's stock price fell by $3.255 per share, or 51.58%, over two trading sessions [10]. - Despite a short squeeze in May 2025 due to delayed U.S. tariffs on EU imports, analysts noted that iRobot's underlying financial fundamentals remained concerning, with deteriorating cash reserves and operational stress [11].

NEW YORK, Aug. 5, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in iRobot Corporation ("iRobot Corporation" or the "Company") (NASDAQ: IRBT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of iRobot Corporation investors who were adversely affected by alleged securities fraud between January 29, 2024 and March 11, 2025. Follow the link below to get more information and be contacted by a member of our team: NO COST TO YOU: If you are a cla ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of iRobot Corporation regarding a class action lawsuit due to alleged misleading statements made by the company during a specified class period [1][3]. Group 1: Allegations - The complaint alleges that iRobot overstated the effectiveness of its restructuring plan following the termination of the Amazon acquisition [3]. - It is claimed that iRobot is unlikely to operate profitably as a standalone company, raising doubts about its ability to continue as a going concern [3]. - The defendants' public statements are described as materially false and misleading throughout the relevant period [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as January 29, 2024, to March 11, 2025 [3]. - Shareholders are encouraged to register for the class action by September 5, 2025, to participate in potential recovery [4]. - Once registered, shareholders will receive updates on the case through a portfolio monitoring software [4]. Group 3: Law Firm Background - The Gross Law Firm is recognized nationally for its commitment to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies engage in responsible business practices and seeks recovery for investors affected by misleading statements [5].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of iRobot Corporation regarding a class action lawsuit alleging that the company made materially false and misleading statements during a specified class period [1][2]. Summary by Sections Allegations - The complaint claims that iRobot overstated the effectiveness of its restructuring plan following the termination of the Amazon acquisition [1]. - It is alleged that iRobot is unlikely to operate profitably as a standalone company, raising doubts about its ability to continue as a going concern [1]. - The public statements made by the defendants are described as materially false and misleading throughout the relevant time frame [1]. Class Action Details - The class period for the lawsuit is defined as January 29, 2024, to March 11, 2025 [1]. - Shareholders are encouraged to register for the class action by September 5, 2025, to potentially be appointed as lead plaintiffs [2]. - Registration allows shareholders to receive updates on the case through portfolio monitoring software [2]. Law Firm Background - The Gross Law Firm is recognized nationally for its class action lawsuits and aims to protect investors from deceit and illegal business practices [3]. - The firm emphasizes the importance of responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [3].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against iRobot Corporation due to allegations of misleading statements and failure to disclose critical information regarding the company's financial stability and operations following the termination of the Amazon Acquisition [2][4]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses exceeding $50,000 in iRobot between January 29, 2024, and March 11, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against iRobot, with a deadline of September 5, 2025, for investors to seek the role of lead plaintiff [2][6]. - The complaint alleges that iRobot overstated the effectiveness of its Restructuring Plan and failed to disclose doubts about its ability to operate profitably as a standalone company [4]. Group 2: Financial Performance - iRobot reported a loss of $2.06 per share on revenue of $172 million for the fourth quarter of 2024, marking a 44% year-over-year decline [5]. - Following the financial results announcement, iRobot's stock price dropped by $3.255 per share, or 51.58%, closing at $3.055 per share on March 13, 2025 [5]. Group 3: Company Background - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3].