By Anvee Bhutani
Shares of RoboStrategy advanced after the robotics investment company raised about $33.9 million through a series of private share sales to institutional investors.
The stock was up 12% to $35.18 in late morning trading on Monday. Shares have gained more than 50% in the past month.
The company issued about 1.35 million shares at a weighted average price of $25.17 each in private placements completed between June 26 and June 29, the company said.
Proceeds will be used to fund follow-on investments and other capital deployments across its portfolio of private robotics and physical artificial intelligence companies, RoboStrategy said.
Write to Anvee Bhutani at anvee.bhutani@wsj.com