iRobot Corporation has announced an agreement under which its secured lender and primary contract manufacturer, Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited (together: Picea), will acquire the company through a court-supervised Chapter 11 restructuring process in the United States.
To implement the transaction, iRobot and certain affiliates have voluntarily filed for a pre-packaged Chapter 11 procedure in the District of Delaware. The company expects the process to be completed by February 2026. The restructuring support agreement sets out the terms under which the acquisition and financial reorganization will be carried out.
Transfer of Ownership to Picea
Under the agreement, Picea will receive 100 percent of iRobot’s equity. The transaction will eliminate the company’s existing debt and result in iRobot becoming a privately held company wholly owned by Picea. Following completion, iRobot’s shares will no longer be listed on the Nasdaq Stock Market.
iRobot confirmed that holders of its common stock will not receive equity or compensation in the reorganized company. All issued and outstanding shares will be cancelled if the Chapter 11 plan is approved, resulting in a total loss for existing shareholders.
Continuity of Operations
According to iRobot, the Chapter 11 process is not expected to disrupt day-to-day operations. The company stated that product availability, app functionality, customer support, and relationships with partners and suppliers will continue as normal. Court filings include requests to allow the company to pay employees, vendors, and other creditors in the ordinary course of business.
The company said the transaction is intended to strengthen its financial position and provide a more stable foundation for future product development and investment in robotics and smart home technologies. Picea already serves as iRobot’s primary manufacturing partner for robotic vacuum cleaners.
Next Steps and Court Process
The transaction remains subject to court approval and other customary conditions. Documents related to the Chapter 11 proceedings will be made publicly available through the court-appointed claims agent, Stretto, Inc.
iRobot is a global consumer robotics company best known for its Roomba robotic vacuum cleaners and has sold millions of devices worldwide. Picea is a global manufacturer of robotic vacuum cleaners, with research, development, and manufacturing operations in China and Vietnam.
