Knightscope Receives Letter of Compliance from NASDAQ

Rhea-AI Summary

Knightscope, Inc. has regained compliance with The Nasdaq Global Market Listing Rule 5450(b)(2)(A) after failing to maintain a minimum market value of listed securities of $50,000,000. The company's market value has been $50,000,000 or greater for the last 10 consecutive business days.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announced that the Company has regained compliance with The Nasdaq Global Market Listing Rule 5450(b)(2)(A) (the “Rule”).

On March 29, 2023, Staff notified the Company that it had failed to maintain a minimum market value of listed securities of $50,000,000 over the previous 30 consecutive business days as required by the Rule. Since then, Staff has determined that for the last 10 consecutive business days, from July 7, through July 20, 2023, the Company’s market value of listed securities has been $50,000,000 or greater and this matter is now closed.

About Knightscope

Knightscope is an advanced public safety technology company that builds fully autonomous security robots and blue light emergency communications systems that help protect the places people live, work, study and visit. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on Facebook, Twitter, LinkedIn and Instagram.

Forward-Looking Statements

This press release may contain “forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about the Company’s profitability and growth. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, among other things, the risk that the restructuring costs and charges may be greater than anticipated; the risk that the Company’s restructuring efforts may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that the Company’s restructuring efforts may negatively impact the Company’s business operations and reputation with or ability to serve customers; the risk that the Company’s restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated. Readers are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2022. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230721322837/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Corporate Communications:

IBN (InvestorBrandNetwork)

Los Angeles, California

www.InvestorBrandNetwork.com

310.299.1717 Office

Editor@InvestorBrandNetwork.com

Source: Knightscope, Inc.

FAQ

What is the company that regained compliance with Nasdaq Listing Rule 5450(b)(2)(A)?

The company that regained compliance is Knightscope, Inc.

What was the requirement of the Nasdaq Listing Rule 5450(b)(2)(A)?

The requirement was for the company to maintain a minimum market value of listed securities of $50,000,000 over the previous 30 consecutive business days.

Has Knightscope, Inc. met the requirement?

Yes, Knightscope, Inc. has met the requirement. The company's market value of listed securities has been $50,000,000 or greater for the last 10 consecutive business days.