Knightscope, Inc. (KSCP): debt financing — Knightscope amends convertible note terms; cash covenant reduced to $1.5M through Feb 14, 2023

Knightscope, Inc.

Minimum Available Cash covenant reduced from $3M to $1.5M from Jan 1 to Feb 14, 2023; reverts to $3M after unless conditions met.
Conditional waiver allows Company to issue up to $20M unsecured convertible notes (Reg A Bonds) with subordination to existing notes.
Conversion Price adjusted to 85% of Alternate Conversion Price (was 80%) effective Jan 1, 2023.
Stockholder approval covenant waived until Feb 28, 2023; holder gets right of first offer for up to $10M Additional Notes.
Company to reimburse $15,000 in legal fees; must file Form 8-K disclosing terms by next business day.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Knightscope, Inc. amended convertible notes.

Instrument: convertible notes
Event: amendment

Exact text from the filing

On December 30, 2022, the Company and the Buyer entered into an Agreement and Waiver (the “Waiver”) with respect to certain terms of the Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Knightscope, Inc. entered into Waiver (effective 2022-12-30).

Action: entry
Effective: 2022-12-30

Exact text from the filing

On December 30, 2022, the Company and the Buyer entered into an Agreement and Waiver (the “Waiver”) with respect to certain terms of the Notes.

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Knightscope, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-131441

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