Knightscope Announces $100M Common Stock Purchase Agreement
The committed equity facility provides Knightscope with the right to sell and issue up to $100 million of its Class A Common Stock over a period of 24 months to B. Riley Principal Capital at Knightscope’s discretion.
(Image source: Knightscope)
MOUNTAIN VIEW, Calif. — Knightscope (Nasdaq: KSCP), a developer of advanced physical security technologies utilizing fully autonomous robots, announces it has entered into a $100 million common stock purchase agreement with B. Riley Principal Capital.
The committed equity facility provides Knightscope with the right, without obligation, to sell and issue up to $100 million of its Class A Common Stock over a period of 24 months to B. Riley at Knightscope’s discretion, subject to certain limitations and conditions.
Further details will be contained in a Current Report on Form 8-K to be filed by Knightscope with the Securities and Exchange Commission.
“One of the reasons to publicly list Knightscope was to gain access to the wider capital markets and fuel the growth of our mission to make the United States of America the safest country in the world,” says William Santana Li, chairman and chief executive officer, Knightscope. “This facility provides us just that — an ability to continue our growth on our timetable and at our discretion, providing for one of the least dilutive financing mechanisms available to the company.”
Knightscope is also celebrating its 9th anniversary this month since its founding on April 4, 2013 in Silicon Valley. “I believe about 95% of startups fail and the odds of starting a company, growing it and taking it public are likely in the winning-the-lottery type of odds …. but we stuck together and did it with the help of all of our partners! Congratulations and many thanks to the entire Knightscope team, our clients, investors, and suppliers,” adds Li.
In February, Knightscope announced a strategic partnership with Allied Universal to provide autonomous security robots (ASRs) to the company’s U.S.-based customers to help deter crime, enhance situational awareness and improve security professional safety.
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