Knightscope issues $3M secured note to Alto Fund; terminates prior convertible notes and warrants

Knightscope, Inc.

Issued $3M senior secured promissory note due July 1, 2025; no interest (default 10% per annum).
Repayment: $2.5M in 11 monthly installments starting Sep 1, 2024; $500K due by Oct 15, 2024 or upon equity issuance.
Holder surrendered 2022 warrants; prior 2022 convertible notes, purchase agreement, and registration rights terminated (except indemnification).
Company granted security interest in substantially all assets to secure the note.
Mutual release between company/CEO and Holder (Alto, Waqas Khatri, Ayrton Capital); non-disparagement clause.

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