Retailer Expands and University Upgrades with Knightscope Technologies

Rhea-AI Summary

Knightscope, Inc. announces the expansion of an existing retail client and a new contract with a university in Alaska. The online retailer signed an agreement for 2 K1 Hemispheres for its second location, with proposals requested for New York and Nevada locations. The university in Alaska elected to retrofit a competitor's legacy blue light emergency communications system with Knightscope's K1 Retrofit Kit.

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 announces the expansion of an existing retail client and a new contract with a university in Alaska.

Retailer Expands and University Upgrades with Knightscope Technologies (Photo: Business Wire)

In order to protect employee safety and deter theft and illegal trespassing at its loading docks, an online retailer with four U.S. warehouses that sells over 40,000 authentic, brand-name fragrances, skincare, makeup, haircare, aromatherapy, and candles signed an agreement for an additional 2 K1 Hemispheres for its second location. Proposals for its New York and Nevada locations were subsequently requested and submitted.

A university in Alaska elected to retrofit a competitor’s legacy blue light emergency communications system with Knightscope’s K1 Retrofit Kit. The K1 Retrofit Kit allows users to upgrade other manufacturer’s blue-light-style phones and call boxes so that they function like Knightscope’s Emergency Phone Products with features like wireless solar power, wireless phone connectivity, and self-monitoring software. There are 50 more units available for upgrade throughout the campus assuming success of the first.

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Knightscope is raising capital to continue to fuel its growth. The Company’s momentum is building – an overview of which may be found at www.knightscope.com/rise – and purchasing Knightscope Bonds will support the effort to deploy the technology at more and more locations across the country.

Unlike municipal bonds that tend to serve hyper-local issues and typically raise taxes, Knightscope bonds are backed by the Company and will benefit public safety professionals from both law enforcement and the security industry across the United States. According to Investopedia, “Bonds tend to be less volatile and less risky than stocks, and when held to maturity can offer more stable and consistent returns.” They also provide a means of preserving capital and earning a predictable return.

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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, X (formerly Twitter), LinkedIn and Instagram.

Disclaimer

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT IS AVAILABLE HERE.

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/20231031814875/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Knightscope, Inc.

What products does Knightscope develop?

Knightscope develops autonomous security robots and blue light emergency communication systems.

What is the purpose of the K1 Retrofit Kit?

The K1 Retrofit Kit allows users to upgrade other manufacturer's blue-light-style phones and call boxes to function like Knightscope's Emergency Phone Products.

Where can I find more information about Knightscope's growth and investment opportunities?

You can find more information about Knightscope's growth and investment opportunities at www.knightscope.com/rise and bond.knightscope.com.

What are the benefits of investing in Knightscope Bonds?

Investing in Knightscope Bonds offers the opportunity to support the deployment of technology at more locations and can provide stable and consistent returns.

What is the website to learn more about Knightscope Bonds?

To learn more about Knightscope Bonds, you can visit bond.knightscope.com.