Knightscope, the autonomous security robot firm, is returning to StartEngine to raise more money. The company’s first securities crowdfunding round was in 2017 on SeedInvest. First, Knighscope completed a seed round with a $4 million convertible and then followed with a Series A and Series B round. But more recently, Knightscope has raised capital online on StartEngine.
According to the offering page, Knightscope is seeking up to $40 million in common shares in a Reg A+ securities offering at a valuation of $535 million.
In an email distributed by Knightscope, the firm said it intended to list its shares on the Nasdaq at the end of January following the securities crowdfunding offering.
“We are targeting listing on NASDAQ at the end of January 2022. In order to do that and include as many subscribers as possible in the closing, we will stop accepting subscriptions at 8:59 pm PST on 14 January 2022. We will then take the time with the broker-dealers to clear and settle subscriptions into escrow ahead of the listing itself.”
According to the Offering Circular filed with the SEC, As of November 1, 2021, Knightscope has “over 28,000 investors, including four major corporations, and has raised over $95 million since inception having built its technology stack from scratch.” The company continues to lose money and needs to raise additional capital to keep operations going. By utilizing the Reg A+ securities exemption, Knightscope may solicit investment from both accredited and non-accredited investors. Following the offering, if approved, Knightscope can float its shares on a stock exchange.
In the comments posted on the offering page, Knightscope shared its historical share pricing:
- 2013 $0.3317 Seed Round (oversubscribed) – $4 million cap on convertible note
- 2014 $0.8932 Series A (oversubscribed) – $15 million pre-money valuation
- 2015 $2.0401 Series B – $45 million pre-money valuation
- 2016 $3.0000 Series m, m-1, m-2 (oversubscribed) – $80 million pre-money valuation
- 2017 $3.5000 Series m-3 (oversubscribed) – $123 million pre-money valuation
- 2019 $8.0000 Series S – $310 million pre-money valuation
- 2020 $10.0000 Series S – $447 million pre-money valuation
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