Knightscope stock dips after pricing $12.1M securities offering
seekingalpha
22 Nov 2024
Knightscope (NASDAQ:KSCP) has priced an underwritten public offering of 1.21 million shares of its Class A common stock at $10.00 per share for an expected gross proceeds to be $12.1 million.
The pre-funded warrants are also available for purchase, with an exercise price of $0.001 per share.
Knightscope has granted the underwriter a 30-day option to buy an additional 181,500 shares of Class A common stock or pre-funded warrants.
The pre-funded warrants can be immediately exercised until all are fully utilized. The purchase price for each pre-funded warrant will be slightly lower than the share price.
The offering is expected to close on or about November 25, 2024.
The company intends to use the net proceeds from the offering for general corporate purposes, including working capital.
KSCP shares were down around 15.8% Friday premarket.
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