This has been a hot year for new initial public offerings (IPOs), and another one is just around the corner. Knightscope, an autonomous security robot (ASR) company, announced at its annual shareholders meeting that it would be going public on the Nasdaq exchange. The company is currently in the process of filing paperwork with the Securities and Exchange Commission (SEC) and an exact IPO date is not yet known.
Additionally, Knightscope isn’t taking the traditional IPO path. The company announced that it would be prioritizing its 28,000 existing investors by offering them shares first. Pre-IPO shares are also available to purchase on Knightscope’s website. Knightscope is a gem within the equity crowdfunding world, putting retail investors first instead of Wall Street sharks.
As part of that, Knightscope announced today that it has commenced its initial public offering. It is currently using the My IPO platform to offer shares.
With that said, let’s take a deeper look into the company trying to make the world a better place with autonomous robots.
Knightscope IPO: 10 Things to Know About KSCP Stock
- Knightscope was founded by William Li and Stacy Stephens in 2013. After witnessing horrible events with mass casualties, such as the shooting at Sandy Hook Elementary School, the pair was inspired to create something that could deter, detect, report and save lives.
- Knightscope offers a range of ASRs suited for different environments.
- The company launched its first autonomous robot in a shopping center during 2015. By 2020, Knightscope had received its first federal purchase order.
- It serves several clients, such as airports, shopping centers, hospitals, warehouses and law enforcement agencies.
- Additionally, the company has privately raised over $75 million since inception from funds such as Knockout Capital and Bright Success Capital.
- Knightscope plans on raising $40 million from its IPO. To do so, it will offer 4 million shares at a price of $10 each.
- Out of the $40 million, $30 million will go toward the development of technology, system upgrades, manufacturing of ASRs, and process improvements. $6 million will help fund general corporate and business practices. The remaining $4 million will be set aside for tax purposes.
- For the 6 months ended June 30, 2021, Knightscope reported $1.8 million in revenue. Revenue for 2020 was $3.3 million, up 10% from 2019’s revenue of $3 million.
- Furthermore, the company reported $12 million in cash and cash equivalents for the 6 months ended June 30, 2021. This is a healthy increase from 2020’s total cash and cash equivalents of $7.1 million.
- Finally, the planned ticker for Knightscope is KSCP.
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
