Know Labs, Inc. Announces Pricing of $7 Million Public Offering of Common Stock
27 Settembre 2023 - 2:00PM
Business Wire
Know Labs, Inc. (NYSE American: KNW) (the “Company”), an
emerging developer of non-invasive medical diagnostic technology,
today announced the pricing of a firm commitment underwritten
public offering of 28,000,000 shares of its common stock at a
public offering price of $0.25 per share (the "Offering"). The
aggregate gross proceeds from the Offering are expected to total $7
million before deducting the underwriting discounts and commissions
and estimated Offering expenses payable by Know Labs.
The Offering is expected to close on or about September 29,
2023, subject to customary closing conditions. In addition, the
Company has granted to the underwriters a 30-day option to
purchase, in the aggregate, up to 4,200,000 additional shares of
its common stock to cover over-allotments at the $0.25 per share
public offering price, less underwriting discounts and
commissions.
The Company intends to use the net proceeds from the offering
for product development, clinical studies, general and
administrative expenses, intellectual property and working
capital.
The Benchmark Company, LLC and Boustead Securities, LLC are
acting as Joint Bookrunning Managers for the offering.
The registration statement, as amended (File No. 333-274350),
relating to the Offering was filed by the Company with the
Securities and Exchange Commission (the "SEC"), and was declared
effective on September 26, 2022. The Offering may be made only by
means of a prospectus. A final prospectus relating to the offering
will be filed with the SEC and will be available at no cost on the
SEC’s website at http://www.sec.gov or can be obtained from The
Benchmark Company, LLC, Attention: Prospectus Department, 150 East
58th Street, 17th Floor, New York, NY 10155, or by email at
prospectus@benchmarkcompany.com, or by calling +1 (212)-312-6700,
or from
Boustead Securities, LLC, via email: offerings@boustead1828.com
or by calling +1 (949) 502-4408 or standard mail at Boustead
Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite
395, Irvine, CA 92618.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
complete information about the Company and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade on the
NYSE American Exchange under the stock symbol “KNW.” The Company’s
technology uses spectroscopy to direct electromagnetic energy
through a substance or material to capture a unique molecular
signature. The Company refers to its technology as Bio-RFID™. The
Bio-RFID technology can be integrated into a variety of wearable,
mobile or bench-top form factors. This patented and patent-pending
technology makes it possible to effectively identify and monitor
analytes that could only previously be performed by invasive and/or
expensive and time-consuming lab-based tests. The first application
of our Bio-RFID technology will be in a product marketed as a
non-invasive glucose monitor. The device will provide the user with
accessible and affordable real-time information on blood glucose
levels. This product will require U.S. Food and Drug Administration
clearance prior to its introduction to the market.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of Know Labs, Inc., its directors or its officers with
respect to, among other things: (i) financing plans; (ii) trends
affecting its financial condition or results of operations; (iii)
growth strategy and operating strategy; and (iv) performance of
products. You can identify these statements by the use of the words
“may,” “will,” “could,” “should,” “would,” “plans,” “expects,”
“anticipates,” “continue,” “estimate,” “project,” “intend,”
“likely,” “forecast,” “probable,” “potential,” and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond Know
Labs, Inc.’s ability to control, and actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. These risks and uncertainties also
include such additional risk factors as are discussed in the
Company’s filings with the U.S. Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended
September 30, 2022, Forms 10-Q and 8-K, and in other filings we
make with the Securities and Exchange Commission from time to time.
These documents are available on the SEC Filings section of the
Investor Relations section of our website at www.knowlabs.co. The
Company cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
The Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement is made.
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version on businesswire.com: https://www.businesswire.com/news/home/20230927752928/en/
For Underwriter Inquiries: The Benchmark Company, LLC
Michael Jacobs, Head of Equity Capital Markets
Mjacobs@benchmarkcompany.com Ph. 212-312-6722
Boustead Securities, LLC Keith Moore, CEO keith@boustead1828.com
Ph. 949-502-4408
For Know Labs Media Inquiries: Matter Health Laura
Bastardi knowlabs@matternow.com Ph. (603) 494-6667
Know Labs, Inc.: Jordyn Hujar jordyn@knowlabs.co Ph.
(206) 629-6414
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