Know Labs (NYSE:KNW) announced today that it priced an underwritten public offering worth about $7 million in proceeds.
Seattle-based Know Labs, which develops a non-invasive glucose monitor, is offering 28 million shares of common stock. It priced the offering at 25¢ per share, with aggregate gross proceeds expected to total $7 million.
The company expects the offering to close on or about Sept. 29, subject to customary closing conditions. Know Labs also granted underwriters a 30-day option to purchase up to 4.2 million additional shares of common stock. Those shares cover over-allotments at the 25¢ per share public offering price.
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