Despite its size and shabby appearance, the Pen deals out damage and knockdown on par with most other knives. The weapon swings absurdly fast, with the relatively low damage being a minor problem due to being able to strike several times where a knife would only manage a single swing. A downside is that the Pen's range is somewhat lower than most knives.
Players deal more damage per second with this weapon by attacking as quickly as possible, rather than fully charging attacks.
If a player wishes for more knockdown, use Martial Arts Aced.
The melee weapon is a reference to a quote from John Wick's origin film, wherein a mobster describes a scene where Wick killed 3 people in a bar with a pencil. The teaser GIF on the Day 8 announcement further references this.