The Vicarious Surgical board of administrators needs to shut the struggling surgical robotics developer as quickly as subsequent week. The board is asking shareholders to approve their plan to dissolve and liquidate the enterprise at a particular assembly scheduled for July 21, however mentioned it cannot predict how a lot (if something) traders would get well or when.
The proposal wants a majority vote. Vicarious Surgical executives and administrators management shares equal to 55% of whole voting energy.
In a securities filing, the board warned traders that, “primarily based upon our present excellent liabilities, it’s unlikely you’ll obtain any distribution.”
With shareholder approval, the board would choose an assignee to liquidate the soft-tissue robotics developer’s property to settle excellent obligations.
“Since inception, we now have skilled recurring working losses and adverse money flows, and we anticipate to proceed to generate working losses and devour important money assets for the foreseeable future,” the corporate mentioned within the submitting, reporting almost $3.7 million of money, money equivalents and short-term investments as of March 31.
“We don’t anticipate our money and money equivalents to be adequate to proceed as a going concern for any important time frame,” the corporate continued. “Though we’re at the moment exploring numerous strategic alternate options, together with strategic companions and financing alternatives, it’s unlikely that these strategic alternate options will probably be profitable within the subsequent few weeks previous to our money place attending to the purpose that we might want to pursue our winding down and dissolution. To this point, we now have been unable to safe extra fairness, debt or different financing and have been unsuccessful in our efforts to draw a purchaser for our enterprise.”
Outcomes of the vote could also be introduced the identical day, and the board plans to instantly stop all enterprise operations apart from the wind-up and liquidation.
Surgical robotics knowledgeable Steve Bell flagged an public sale of the corporate’s property on LinkedIn immediately, saying “it seems to be like the top of the street for one more attention-grabbing delicate tissue robotic.”
Three executives (who’re additionally board administrators) are set to obtain severance payouts in the event that they’re terminated with out trigger or resign for good motive.
CEO Stephen From would obtain at the least $500,000, co-founder and President Adam Sachs would obtain at the least $541,620, and Chief Expertise Officer Sammy Khalifa would obtain at the least $318,600.
All three would additionally obtain excellent fairness awards, partial payouts for his or her goal bonuses, and funds equal to the price of COBRA well being care premiums for various lengths of time.
These severance offers are a part of government employment contracts that had been amended within the first quarter of 2026.
Sachs and Khalifa alone held 54% of voting energy as of June 10, the corporate mentioned. Different giant traders embrace co-founder Dr. Barry Greene (13%), Khosla Ventures (5%) and Gates Frontier (3%).
The liquidation wouldn’t be a federal chapter process, with the board saying it “imagine that as in comparison with a submitting below federal chapter legal guidelines, the project and dissolution might current the most effective alternative for restoration for our collectors and likewise might present a possibility for future funds to our stockholders, though funds to stockholders are unlikely.”
Save the date for RoboBusiness 2026The corporate mentioned there are “uncertainties as to the last word quantity of our liabilities” in the newest submitting, however reported $9 million in whole liabilities on the finish of March and $12.6 million in property.
The corporate misplaced $7.3 million that quarter, following a $50.2 million loss in 2025 and $63 million loss the yr earlier than.
As of March 9, Vicarious reported 26 workers: 11 in R&D, regulatory and medical, eight in manufacturing and high quality assurance, and 7 in advertising and marketing, gross sales, and administration. The corporate mentioned it leases 42,000-square-feet of workplace area at its Waltham, Massachusetts headquarters.
Since then, Vicarious Surgical CFO Sarah Romano has tendered her resignation to take the identical function at SS Improvements on Aug. 3.
Firm officers didn’t instantly reply to a request for remark, however we’ll replace this story in the event that they do.
Editor’s Observe: This text was first revealed by sister publication MassDevice.
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