- Greg Kidd to acquire controlling interest in Know Labs, Inc. (KNW, Financial) and implement a Bitcoin treasury strategy.
- The deal involves the acquisition of shares using 1,000 Bitcoin and a cash sum, pegged at a purchase price of $0.335 per share.
- The transaction is expected to close in Q3 2025, subject to shareholder approval and customary conditions.
Know Labs, Inc. (KNW), a leader in non-invasive health monitoring technology, has announced a significant development as Greg Kidd, a prominent fintech investor and former Ripple Chief Risk Officer, is set to acquire a controlling interest in the company. This strategic agreement involves Goldeneye 1995 LLC, an affiliate of Kidd, purchasing shares through a combination of 1,000 Bitcoin and cash to manage debt and enhance working capital, priced at $0.335 per share.
Following the completion of this transaction, Greg Kidd will assume the roles of Chief Executive Officer and Chairman of the Board at Know Labs. The company plans to leverage a Bitcoin treasury strategy, positioning its digital asset holdings as a central part of its balance sheet. This innovative move aligns with current favorable market and regulatory conditions, aiming to enhance shareholder value through sustainable growth.
At the anticipated closing of the transaction, Know Labs' market capitalization is projected at $128 million, with Bitcoin holdings representing approximately 82% of this valuation, assuming a Bitcoin price of $105,000. The company intends to evaluate this through a multiple of net asset value (mNAV) metric.
In addition to these changes, Ron Erickson, the founder of Know Labs, will transition to President of a newly established division focused on advancing the company's proprietary diagnostic research. Erickson will also serve as Vice Chairman of the Board, underscoring the continued commitment to the development of the company’s non-invasive medical technology.
The agreed transaction, which received unanimous approval from the Know Labs Board of Directors, is slated to close in the third quarter of 2025, pending shareholder approval and standard closing conditions. The deal is supported by Cohen & Company Capital Markets as financial adviser and Lowenstein Sandler LLP as legal advisor for the Buyer, with Sichenzia Ross Ference Carmel LLP advising Know Labs.
