By STORY HIGHLIGHTS
- Knightscope Inc. announced a public offering to raise $12.1 million.
- Knightscope signed a deal with Verizon Business for secure connectivity.
- Knightscope expanded services with Draganfly Inc. for aerial security.
Knightscope Inc., a Mountain View company that focuses on AI and self-driving tech, hopes to raise $12.1 million through a public offering of 1,210,000 shares of Class A common stock.
The offering on Nov. 21, at $10 per share, will be used as working capital and for general purposes, the company said in a statement on Friday. The offering was underwritten by Titan Partners Group, a division of American Capital Partners.
The Mountain View-based company’s share price (Nasdaq: KSCP) initially dropped on the news, dropping 39% to $11.08 in premarket trading on Nov. 21. But the stock bounced back to $15.72 at Monday’s opening.
Knightscope is the creator of autonomous security robots (ASRs), security robots that are deployed in such public areas as shopping malls and parking lots. Knightscope has had a strong year, signing new partnerships as well as renewing contracts with major clients.
Thursday’s public offering followed the news that Knightscope had signed a deal with Verizon Business to provide secure connectivity for Knightscope’s K5 security robots and K1 emergency communication devices used at commercial and government facilities.
In October, Knightscope announced it had renewed and expanded its contracts with the New York City Fire Department for its K1 Call Boxes, as well as with the Port Authority of New York and New Jersey.
The company had also expanded is services into aerial security having signed a partnership with the Saskatoon, Canada-based Draganfly Inc. to add drones to its suite of products.
Draganfly manufactures and sells commercial unmanned aerial vehicles and ground-based robots, as well as the software needed for tracking, live streaming, flight training and data collection.
