Knightscope, Inc. (KSCP), a company that designs, develops, builds, deploys, and supports physical security technologies, has surged 20.32% in premarket trading session and consequently is trading at $19.60 at the time of the writing. During Friday’s regular trading session, the stock went berserk as it rocketed 175.63% during the session and closed the day at $16.29. The blistering performance of stock could be attributed to the client’s addiction.
Why KSCP on Rise?
On Friday, Knightscope announced that Securitas, Knightscope channel partner, has added Knightscope K5 to the security program of one of the largest finance companies in the nation. Securitas is one of the largest security companies in the United States. As soon as the news came out, KSCP stock went on a frenzy and soared by 175% during Friday’s regular trading session, surging to almost matching its post-initial public offering (IPO) high.
Beginning of Trading
On 27th January, Knightscope announced that its common stock would begin trading on the NASDAQ Capital market. The trading was to begin at 11:00 am EST on 27th January 2022, under the ticker symbol of KSCP. Digital Offering, LLC was to serve as the lead managing selling agent and sole book-runner for the offering.
Closing of Public Offering
On 26th January, KSCP announced the closing of the public offering of common stock. The company said that it had raised $22,366,190 through the sale of 2,236,619 shares of its Class A Common Stock. The shares were priced at $10.00 per share. Digital Offering, LLC, acted as the lead managing selling agent and sole book-runner for the offering. While commenting on the development, William Santana Li, chairman, and CEO of Knightscope said that the company has brought on thousands and thousands of new investors as it embarks on the 2nd chapter of a book in helping to make the US a safe country.
Future Outlook for KSCP
As KSCP has just begun trading on NASDAQ, its previous stats are not available which could show how it would tend to perform in the future. However, analysts believe that the upcoming times are providing an optimistic signal with regards to the performance of the stock. Hence, it is expected to perform strongly during an upcoming couple of weeks.