Knightscope Expands AI-Powered Security Robot Deployment and Announces $12.1 Million Public Offering

Knightscope secures deals for safety robots in 12 states By Investing.com

MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ:KSCP), a company specializing in robotics and AI, has announced the signing of contracts for the deployment of its K5 Autonomous Security Robots (ASRs) and K1B Emergency Communication Devices (ECDs) across 12 U.S. states. The states include California, Connecticut, Delaware, Florida, Georgia, Maryland, New York, North Carolina, Ohio, South Carolina, Texas, and Washington. These devices are set to be distributed in various sectors such as government, education, utilities, and commercial real estate, aiming to enhance public safety and communication. The K5 ASR is Knightscope's leading product, equipped with AI software that allows it to patrol areas autonomously while providing real-time data to improve the safety of individuals on the properties it monitors. These robots also offer interactive experiences for visitors through customized graphics and audio messages. On the other hand, the company's blue light ECDs address potential gaps in cell phone coverage or availability, offering an alternative method for people to reach emergency services. Knightscope's recent collaboration with Verizon (NYSE:VZ) Frontline (NYSE:FRO) ensures that users of its ECDs have priority access to cellular bandwidth, which is critical for timely response in emergencies. The company's portfolio also includes Automated Gunshot Detection Services, further contributing to its public safety technology offerings. Knightscope's mission is to enhance safety in the United States, with the ultimate goal of making it the safest country in the world. The company's recent contracts mark a significant step towards this ambition by broadening the reach of its technologies. This announcement contains forward-looking statements that are based on the company's current expectations and projections about future events. As with any such statements, they are subject to various risks and uncertainties, and actual results may differ materially from the company's predictions. The information for this article is based on a press release statement from Knightscope, Inc. In other recent news, Knightscope, a company specializing in robotics and AI technologies for public safety, has announced plans for a public stock offering, with the proceeds aimed at general corporate purposes. The offering will be managed by Titan Partners Group, under American Capital Partners (WA:CPAP). The company has also regained compliance with Nasdaq's minimum bid price requirement, a significant milestone following a period of uncertainty. Knightscope has reported a Q2 gross loss but confirmed an increase in its CASE business, expressing optimism about future opportunities with federal agencies and law enforcement. The company has implemented a 1-for-50 reverse stock split for both its Class A and Class B Common Stock following stockholder approval at the Annual Meeting. Additionally, Knightscope has expanded the deployment of its K5 Autonomous Security Robots at various locations and has deployed an upgraded K5 robot at a California hospital. The company has also renewed its contract with a top commercial real estate brokerage and property management firm in Texas. These are recent developments in the company's ongoing operations. As Knightscope (NASDAQ:KSCP) expands its deployment of security robots and emergency communication devices across 12 U.S. states, investors should be aware of some key financial metrics and insights provided by InvestingPro. Despite the company's ambitious growth plans, InvestingPro data reveals that Knightscope's revenue for the last twelve months as of Q3 2023 was $11.01 million, with a concerning revenue growth decline of -9.3% during the same period. This suggests that the company may face challenges in translating its expanding footprint into immediate financial gains. An InvestingPro Tip highlights that Knightscope is "quickly burning through cash," which is a critical factor to consider given the capital-intensive nature of robotics and AI development. This rapid cash burn rate could potentially impact the company's ability to sustain its expansion efforts without additional funding. Another relevant InvestingPro Tip indicates that Knightscope "suffers from weak gross profit margins." This aligns with the reported gross profit margin of -41.55% for the last twelve months as of Q3 2023, suggesting that the company is currently selling its products and services at a loss. As Knightscope scales its operations across multiple states, improving these margins will be crucial for long-term sustainability. It's worth noting that InvestingPro offers 13 additional tips for Knightscope, providing a more comprehensive analysis for investors interested in delving deeper into the company's financial health and market position.

Knightscope plans public stock offering By Investing.com

MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ:KSCP), a company specializing in robotics and artificial intelligence (AI) for public safety, announced today its intention to conduct an underwritten public offering of its Class A common stock and potentially pre-funded warrants, depending on market conditions. The firm also plans to give the underwriter a 30-day option to buy up to an additional 15% of the shares and warrants issued in the offering under the same terms. The company has stated that the proceeds from this offering will be directed toward general corporate purposes, which include working capital. Titan Partners Group, operating under American Capital Partners (WA:CPAP), will serve as the sole bookrunner for the offering. This offering will be made in accordance with a shelf registration statement on Form S-3 (File No. 333-269493), effective since February 8, 2023. Detailed information about the offering will be available in a preliminary prospectus supplement and accompanying base prospectus to be filed with the SEC. Knightscope's announcement comes with the disclaimer that the offering is subject to market conditions, and there is no guarantee of the offering's completion or the specifics of its size and terms. The company's broader vision is to enhance public safety in the United States with its technology, aiming to make the country the safest in the world. This press release includes forward-looking statements that are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated. Knightscope has directed interested parties to its SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2023, for a detailed discussion of risk factors. The information for this article is based on a press release statement. In other recent news, Knightscope, a developer of advanced security technologies, has reported a series of significant developments. The company has regained compliance with Nasdaq's minimum bid price requirement, a critical milestone following a period of uncertainty. Knightscope also reported a Q2 gross loss but confirmed an increase in the CASE business and expressed optimism about future opportunities with federal agencies and law enforcement. Knightscope has implemented a 1-for-50 reverse stock split for both its Class A and Class B Common Stock, following stockholder approval at the Annual Meeting. Furthermore, the company has expanded the deployment of its K5 Autonomous Security Robots at various locations, including a hotel in Louisville, a casino in Kansas City, and a storage facility in Richmond. An upgraded K5 robot has been deployed at a California hospital, and another K5 robot has been added to the fleet under a contract with the same healthcare provider. Knightscope has also renewed its contract with a top commercial real estate brokerage and property management firm in Texas. During the company's annual stockholders meeting, board members William Santana Li, William G. Billings, Robert A. Mocny, and Melvin W. Torrie were re-elected, and BPM LLP was ratified as Knightscope's independent registered public accounting firm for the fiscal year ending December 31, 2024. Knightscope's decision to conduct a public offering comes at a time when the company faces significant financial challenges, as revealed by recent InvestingPro data. The company's market capitalization stands at a modest $49.48 million, reflecting investor caution about its prospects. InvestingPro Tips highlight that Knightscope is "quickly burning through cash" and "not profitable over the last twelve months." These insights align with the company's need for additional capital through the announced public offering. The negative gross profit margin of -41.55% for the last twelve months ending Q3 2024 underscores the company's struggle to achieve profitability in its core operations. Despite these challenges, Knightscope has shown some positive momentum in its stock performance. InvestingPro data indicates a strong return of 22.19% over the last month and 19.93% over the last three months. However, this recent uptick should be viewed in the context of the stock's longer-term performance, with a -44.75% return over the past year. The company's focus on AI and robotics for public safety positions it in an innovative but capital-intensive sector. This is reflected in its high Price / Book multiple of 5.35, suggesting investors are pricing in future growth potential despite current financial difficulties. Investors considering Knightscope should note that InvestingPro offers 14 additional tips for KSCP, providing a more comprehensive analysis of the company's financial health and market position. These insights can be valuable for understanding the full picture behind Knightscope's current offering and future prospects.

Knightscope Announces Pricing of $12.1 Million Public Offering By Investing.com

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Knightscope, Inc. [Nasdaq: KSCP] (Knightscope or the Company), an innovator in robotics and artificial intelligence (AI) technologies focused on public safety, today announces the pricing of an underwritten public offering of 1,210,000 shares of its Class A common stock (or pre-funded warrants in lieu thereof) at a public offering price of $10.00 per share. The pre-funded warrants will be immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The purchase price of each pre-funded warrant sold in the offering will be equal to the price at which a share of common stock is sold in the offering, minus $0.001, and the exercise price of each pre-funded warrant will equal $0.001 per share. In connection with the offering, Knightscope has granted the underwriter a 30-day option to purchase an additional 181,500 shares of Class A common stock (or pre-funded warrants) from the Company at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 25, 2024, subject to customary closing conditions. The gross proceeds of the offering are expected to be $12.1 million, excluding the exercise of the underwriter's option, if any, of approximately $1.8 million, and excluding underwriting discounts and commissions and other offering-related expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital. Titan Partners Group, a division of American Capital Partners (WA:CPAP), is acting as sole bookrunner for the offering. The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-269493), which was previously filed with the Securities and Exchange Commission (SEC) and became effective on February 8, 2023. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov, copies of which may be obtained, for free by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.com. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying base prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference into such preliminary prospectus supplement and the accompanying base prospectus, which provide more information about the Company and such offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. This offering is being made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Knightscope Knightscope builds cutting-edge technologies to improve public safety, and our long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as should, may, intends, anticipates, believes, estimates, projects, forecasts, expects, plans, proposes and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about the Company's goals, profitability, growth, prospects, reduction of expenses, and outlook. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements, including the factors discussed under the heading Risk Factors in Knightscope's Annual Report on Form 10-K for the year ended December 31, 2023, as updated by its other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.

Knightscope Announces Pricing of $12.1 Million Public Offering

Knightscope, Inc. [Nasdaq: KSCP] ("Knightscope" or the "Company"), an innovator in robotics and artificial intelligence ("AI") technologies focused on public safety, today announces the pricing of an underwritten public offering of 1,210,000 shares of its Class A common stock (or pre-funded warrants in lieu thereof) at a public offering price of $10.00 per share. The pre-funded warrants will be immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The purchase price of each pre-funded warrant sold in the offering will be equal to the price at which a share of common stock is sold in the offering, minus $0.001, and the exercise price of each pre-funded warrant will equal $0.001 per share. In connection with the offering, Knightscope has granted the underwriter a 30-day option to purchase an additional 181,500 shares of Class A common stock (or pre-funded warrants) from the Company at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 25, 2024, subject to customary closing conditions. The gross proceeds of the offering are expected to be $12.1 million, excluding the exercise of the underwriter's option, if any, of approximately $1.8 million, and excluding underwriting discounts and commissions and other offering-related expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital. Titan Partners Group, a division of American Capital Partners, is acting as sole bookrunner for the offering. The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-269493), which was previously filed with the Securities and Exchange Commission ("SEC") and became effective on February 8, 2023. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov, copies of which may be obtained, for free by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.com. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying base prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference into such preliminary prospectus supplement and the accompanying base prospectus, which provide more information about the Company and such offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. This offering is being made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Knightscope Knightscope builds cutting-edge technologies to improve public safety, and our long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as "should," "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," "proposes" and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about the Company's goals, profitability, growth, prospects, reduction of expenses, and outlook. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements, including the factors discussed under the heading "Risk Factors" in Knightscope's Annual Report on Form 10-K for the year ended December 31, 2023, as updated by its other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.