NetworkNewsBreaks – Knightscope Inc. (NASDAQ: KSCP) Enters $100 Million Common Stock Purchase Agreement with B. Riley
Knightscope, Inc. (NASDAQ: KSCP), a developer of advanced physical security technologies focused on enhancing U.S. security operations, yesterday announced that it entered into a $100 million common stock purchase agreement with B. Riley Principal Capital. Knightscope, which is celebrating its 9th anniversary, announced that the committed equity facility provides the company 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. The company can do so at its discretion and without obligation, although any transactions will be subject to some limitations and conditions.
“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,” said Knightscope chair and CEO William Santana Li in the press release. “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.”
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