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Knightscope began trading on the Nasdaq today under the symbol “KSCP”. During its initial public offering (IPO), the company sold over two million shares, grossing over $22 million.
The Mountain View, Calif.-based company announced its offer in December 2021, when it began selling up to four million shares of Class A common stock for $10 per share.
“We’ve brought thousands and thousands of new investors to Knightscope as we embark on the 2nd chapter of a very long book aimed at helping make the United States of America the safest country in the world,” said William Santana Li, Chairman and CEO. of Knightscope, said. “I am forever grateful to our relentless team and the 28,000+ investors who helped write the 1st chapter of our journey – a heartfelt, heartfelt thank you.”
Knightscope first announced its intention to go public at its shareholder meeting in September 2021. There, the company also announced that it would prioritize its more than 28,000 investors first, allowing them to buy actions before the rest of the public.
The company planned to use proceeds from the IPO to continue to evolve its fleet of security robots and invest in new technologies.
Knightscope’s range of security robots includes the K1, a stationary robot for small area surveillance, the K3, an indoor mobile security robot, the K5, the company’s flagship outdoor security robot, and the K7, a multi-terrain security robot. The company operates under a robots as a service (RaaS) model.
The company enters 2022 with a multitude of new contracts with various customers. In the past month, the company announced contracts with a school district in Colorado, an impact developer in Washington, D.C., a private company with 25 properties in Texas, a private school in Florida, a casino in southern California Parks and Recreation organization in California and a clothing retailer in California.
According to an SEC filing, Knightscope’s revenue for the first six months of 2021 increased by $141,000 (9%) to $1.8 million.