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MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ: KSCP), known for its autonomous security robots and AI technology, has announced a registered direct offering of 625,000 shares of common stock, priced at $2.75 each. The transaction is slated for completion around March 31, 2025, pending customary closing conditions. The offering comes as the company’s stock trades near its 52-week low of $3.78, having declined over 83% in the past year. InvestingPro analysis suggests the stock is currently trading below its Fair Value.
The company expects to raise approximately $1.7 million in gross proceeds from the sale before accounting for the placement agent’s fees and other related expenses. Knightscope has indicated that the net proceeds will be allocated towards working capital and general corporate purposes. With a market capitalization of $17.27 million and negative EBITDA of $27.18 million in the last twelve months, the company faces significant financial challenges. InvestingPro subscribers can access 15+ additional key metrics and insights about the company’s financial health.
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The shares are offered under a shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (SEC) on February 1, 2023, and declared effective on February 8, 2023. The sale is being conducted through a prospectus supplement and accompanying base prospectus, which will be filed with the SEC and made available on its website.
Knightscope’s mission is to enhance public safety through its innovative technologies, striving to make the United States the safest country in the world.
The information presented in this article is based on a press release statement and is intended for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy securities.
In other recent news, Knightscope, Inc. has reported significant developments across its operations. The company announced that it has achieved full Authority to Operate under the Federal Risk and Authorization Management Program (FedRAMP), allowing it to expand its autonomous security solutions across federal agencies. This authorization reflects Knightscope’s compliance with stringent federal cybersecurity standards and positions it to cater to the federal government marketplace. Additionally, Knightscope has secured multiple contract renewals and upgrades from its clients, including two commercial real estate companies, a casino, and a Texas hospital, marking its seventh consecutive year of technology use there.
Five clients have upgraded to the fifth-generation K5 Autonomous Security Robot (K5v5), enhancing their security capabilities with redesigned models for improved quality and service. In the healthcare sector, Knightscope has expanded its reach by deploying security solutions at three healthcare organizations, including emergency communication devices and autonomous security robots. These deployments emphasize the company’s commitment to improving safety in public spaces. Furthermore, Knightscope introduced a Robot Quiz to help public safety officials evaluate the benefits of autonomous security solutions. The company’s recent achievements underscore its dedication to advancing public safety technologies and its strategic focus on making the United States a safer country.
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