Irvine, CA — August 14, 2024 – Boustead Securities, LLC (“Boustead”) client Know Labs, Inc. (NYSE: KNW), a leading developer of non-invasive medical diagnostics technology, announced the successful closing of its previously announced underwritten public offering of 13,250,000 units at a public offering price of $0.26 per unit, with each unit consisting of one share of its common stock and one warrant to purchase one share of its common stock at an initial exercise price of $0.26, and the partial exercise of the underwriters’ option to purchase 1,987,500 warrants (the "Offering"). The Company raised gross proceeds of $3.445 million less the underwriting discounts and commissions and estimated Offering expenses payable by Know Labs.
The Offering was conducted as part of Know Labs' strategic plan to accelerate the development of its proprietary technology, which includes the KnowU™ wearable non-invasive continuous glucose monitoring device. The capital raised will be instrumental in advancing the Company's ongoing clinical validation studies and product development efforts on the path toward FDA clearance, and in continuing to build a robust intellectual property moat surrounding Know Labs’ technology.
Ron Erickson, CEO and Chairman at Know Labs, stated, "We are pleased with the strong and continued support from our investors and the successful closing of this public offering. The proceeds will provide us with the financial resources necessary to advance our progress in bringing the next generation of blood glucose monitoring devices to the marketplace."
Boustead Securities, LLC and The Benchmark Company, LLC acted as joint book-running managers in the Offering. The securities described above were offered pursuant to a registration statement, as amended (File No. 333‑280273) that was declared effective by the Securities and Exchange Commission (the “SEC”) on August 7, 2024. A final prospectus relating to the Offering has been filed with the SEC and is available on the SEC’s website at 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.
For more information about Know Labs, visit www.knowlabs.co.
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade 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 conduct analyses 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 glucose monitor. It will provide the user with real time information on their blood glucose levels. This product will require US Food and Drug Administration approval prior to its introduction to the market.
Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com
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