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Highlights
- Knightscope has filed for IPO with the SEC, but the offer date hasn’t been fixed yet.
- The technology company builds autonomous security robots (ASR).
- Its robots are used in shopping centers, warehouses, airports, hospitals, etc.
The Mountain View, California-based Knightscope Inc. is an advanced technology company that builds autonomous security robots (ASR).
In early December, the company filed the IPO papers with the Securities and Exchange Commission (SEC) for the stock listing on NASDAQ Global Market under the symbol KSCP.
The company plans to offer shares first to its existing 28,000 shareholders before offering them to others. Knightscope offered pre-IPO shares through the My IPO platform on its website.
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Since its inception, the company raised around US$70 million privately from investors such as Knockout Capital and Bright Success Capital. It now plans to raise around US$40 million from the IPO. It will offer four million shares of Class A common stock for US$10.0 apiece.
The company said it would use 3/4th of the IPO proceeds for manufacturing and technology development of ASRs, including process improvements. The balance of US$10 million will be used for general business and tax purposes in six and four ratios, respectively.
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What is Knightscope?
The company was founded by William Santana Li and Stacy Dean Stephens in April 2013. The company launched its first autonomous robot in 2015 for use in a shopping center. It received its first federal purchase order in 2020. The company offers robots for different environments.
Knightscope products include K1 ASR for stationary indoor or outdoor use, the K3 ASR for indoor use, the K5 ASR for outdoor use, and the Knightscope Security Operations Center (K-SOC), which provides real-time data access to clients.
Its robots are used at shopping centers, warehouses, airports, and hospitals.
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Financials
Knightscope’s revenue was US$1.8 million for the six months ended June 30, 2021, compared to US$1.6 million for the corresponding period of 2020.
Its net loss was US$22.7 million for the six months ended June 30, 2021, versus a net loss of US$9.14 million for the same period of 2020. The cash and equivalents were US$12.0 million as of June 30, 2021, compared to US$7.1 million as of Dec 31, 2020.
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How to buy the stock?
The company has appointed Digital Offering LLC as its lead selling agent and sole book-runner for the offering. The shares can be purchased from the brokers after fulfilling the KYC requirement.
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Bottomline
The year 2021 saw record IPOs, SPACs, and direct listings on NASDAQ. NASDAQ saw around 743 IPOs this year, raising US$180 billion.
