Irvine, CA — September 15, 2022 – Boustead Securities, LLC (“Boustead”) client Know Labs, Inc. (NYSE: KNW), an emerging developer of non-invasive medical diagnostic technology, today announced the pricing of a firm commitment underwritten public offering of 3,600,000 shares of its common stock at a public offering price of $2.00 per share (the "Offering"). The aggregate gross proceeds from the Offering are expected to total $7.2 million before deducting the underwriting discounts and commissions and estimated Offering expenses payable by Know Labs.
Know Labs’ common stock is expected to begin trading on the NYSE American Exchange under the ticker symbol "KNW" on September 16, 2022. The Offering is expected to close on or about September 20, 2022, subject to customary closing conditions. In addition, the Company has granted to the underwriter a 45-day option to purchase, in the aggregate, up to 540,000 additional shares of its common stock to cover over-allotments at the $2.00 per share public offering price.
Boustead Securities, LLC is acting as the sole underwriter for the Offering.
The registration statement, as amended (File No. 333-266423), relating to the Offering was filed by the Company with the Securities and Exchange Commission (the "SEC"), and was declared effective on September 15, 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 on the SEC’s website at http://www.sec.gov 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, USA.
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 under the stock symbol “KNWN.” 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.
About 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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