Knightscope, Inc. (KSCP): restructuring charge — Knightscope cuts 20% of workforce, $613K charge; CFO Burak named President

Knightscope, Inc.

Workforce reduced by ~20% under cost-reduction plan post-CASE acquisition.
Estimated $613,400 in charges ($594,600 in Q1 2023); $168,500 cash expected in 2023.
CFO Mallorie Burak appointed President effective Jan 5, 2023, retains CFO duties.
Pro forma combined H1 2022 revenue $6.996M vs full-year 2021 revenue $3.407M.

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Mallorie Burak

President and Chief Financial Officer

KSCP · Knightscope, Inc.

Effective: 2023-01-05
Filed: January 9, 2023, 6:59 PM ET

On January 5, 2023, the Board appointed Mallorie Burak, the Company’s current Chief Financial Officer, as the Company’s President, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mallorie Burak was appointed as President and Chief Financial Officer at Knightscope, Inc..

Action: appointed
Role: President and Chief Financial Officer

Exact text from the filing

On January 5, 2023, the Board appointed Mallorie Burak, the Company’s current Chief Financial Officer, as the Company’s President, effective immediately.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Knightscope, Inc. announced a restructuring with charges of approximately $613,400 affecting Knightscope, Inc. (approximately 20%).

Type: restructuring
Charge: approximately $613,400
Affected area: Knightscope, Inc.
Headcount: approximately 20%

Exact text from the filing

commitment to profitable growth. The Plan includes a reduction of the Company’s current workforce by approximately 20%. The Company estimates that it will incur approximately $613,400 in cash and non-cash charges in connection with the Plan, of which approximately $594,600 is expected to be incurred in the first quarter of 2023. These charges relate primarily

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Knightscope, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-002244

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