NetworkNewsBreaks – Knightscope, Inc. (NASDAQ: K
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Posted On: 06/30/2023 4:12:41 PM
NetworkNewsBreaks – Knightscope, Inc. (NASDAQ: KSCP) Announces Payment in Full of $6M Convertible Notes
Knightscope (NASDAQ: KSCP), a leading developer of autonomous security robots (“ASRs”) and blue light emergency communication systems, has paid in full $6 million in convertible notes. The company announced that the notes, which were fully repaid through conversions to Class A common stock, had been issued when KSCP acquired CASE Emergency Systems in October 2022.
According to the announcement, associated warrants to purchase more than 1.1 million shares of class A common stock with an initial exercise price of $3.25 per share remains outstanding. Those warrants are exercisable any time and expire five years from the date the notes were originally issued.
“We’re excited to have this debt fully repaid and behind us,” said Knightscope CEO and chair William Santana Li in the press release. “The repayment of the notes strengthens the balance sheet and provides the company with increased flexibility to execute our strategy of growing Knightscope.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Knightscope (NASDAQ: KSCP), a leading developer of autonomous security robots (“ASRs”) and blue light emergency communication systems, has paid in full $6 million in convertible notes. The company announced that the notes, which were fully repaid through conversions to Class A common stock, had been issued when KSCP acquired CASE Emergency Systems in October 2022.
According to the announcement, associated warrants to purchase more than 1.1 million shares of class A common stock with an initial exercise price of $3.25 per share remains outstanding. Those warrants are exercisable any time and expire five years from the date the notes were originally issued.
“We’re excited to have this debt fully repaid and behind us,” said Knightscope CEO and chair William Santana Li in the press release. “The repayment of the notes strengthens the balance sheet and provides the company with increased flexibility to execute our strategy of growing Knightscope.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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