Knightscope Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits
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| Item 1.01 | Entry Into a Material Definitive Agreement. |
On March 27, 2025, Knightscope, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with a certain institutional investor (the “Investor”), pursuant to which the Company agreed to issue and sell in a registered direct offering (the “Offering”) 625,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.001 per share, at a purchase price of $2.75 per share. The gross proceeds to the Company from the Offering were approximately $1.7 million before deducting placement agent fees and other offering expenses payable by the Company.
The Shares were offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-269493) which was filed with the Securities and Exchange Commission (the “SEC”) on February 1, 2023, and declared effective by the SEC on February 8, 2023, and related base prospectus and a prospectus supplement dated March 27, 2025, thereunder.
The Offering closed on March 31, 2025. The Company currently plans to use the net proceeds from the Offering for working capital and general corporate purposes.
The Purchase Agreement includes customary representations, warranties and covenants by the Company and the Investor. Additionally, the Company has agreed to provide the Investor with customary indemnification under the Purchase Agreement. Pursuant to the terms of the Purchase Agreement, the Company has agreed to certain restrictions on the issuance and sale of its Common Stock or Common Stock Equivalents (as defined in the Purchase Agreement) during the 60-day period following the closing of the Offering, and not to issue any Common Stock or Common Stock Equivalents in a Variable Rate Transaction (as defined in the Purchase Agreement) for 6 months from the date of closing of the Offering, subject to certain exceptions as contained therein.
On March 24, 2025, the Company entered into an engagement letter with H.C. Wainwright & Co., LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to serve as the exclusive placement agent for the Company, on a reasonable best efforts basis, in connection with the Offering. Pursuant to the engagement letter, the Company has agreed to pay the Placement Agent an aggregate cash fee equal to 6.0% of the gross proceeds received in the Offering and an aggregate of $65,950 for fees and expenses of its legal counsel and other out-of-pocket expenses, including clearing expenses.
The foregoing description of the Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of the form of Purchase Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on form 8-K and is incorporated by reference herein.
The legal opinion and consent of Haynes and Boone, LLP relating to the validity of the Shares is filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 8.01 | Other Events. |
On March 28, 2025, the Company issued a press release announcing that it had priced the Offering. The full text of the press release is attached hereto as Exhibits 99.1 to this Current Report on Form 8-K, and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit | Description | |
| 5.1 | Opinion of Haynes and Boone, LLP | |
| 10.1 | Form of Securities Purchase Agreement | |
| 23.1 | Consent of Haynes and Boone, LLP (included in Exhibit 5.1) | |
| 99.1 | Press Release dated March 28, 2025 | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| knightscope, INC. | ||
| Date: March 31, 2025 | By: | /s/ William Santana Li |
| Name: | William Santana Li | |
| Title: | Chief Executive Officer and President | |