Knightscope Shares Sink After Pricing of Public Offering

Dow Jones11-22

By Dean Seal

Shares of Knightscope tumbled after the company said a public stock offering was priced at $10, well below Thursday's closing price.

The stock was down 39% at $11.08 in premarket trading. Shares already had dropped 39% year-to-date when the market closed Thursday.

The Mountain View, Calif., maker of autonomous security robots and emergency call boxes said late Thursday it would offer 1.21 million shares for $10 apiece.

The offering is expected to close on Nov. 25. Proceeds are intended for general corporate purposes, including working capital.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 22, 2024 06:46 ET (11:46 GMT)

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