Know Labs prices $7M public offering of 28M shares at $0.25 per share

USBC, Inc.

Firm commitment underwritten offering of 28,000,000 common shares at $0.25/share, gross proceeds $7M.
Net proceeds to Know Labs after underwriting discounts and expenses approximately $6.39M.
Underwriters granted 30-day over-allotment option for up to 4,200,000 additional shares.
Issued representatives' warrants to Boustead and Benchmark for 1,960,000 shares at $0.25, exercisable until Sept 2028.
Proceeds intended for product development, clinical studies, IP, working capital, and G&A.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

USBC, Inc. entered into Underwriting Agreement with Boustead Securities, LLC and The Benchmark Company, LLC as representatives of the underwriters valued at approximately $6.39 million (effective 2023-09-26).

Action: entry
Agreement: underwriting
Counterparty: Boustead Securities, LLC and The Benchmark Company, LLC as representatives of the underwriters
Value: approximately $6.39 million
Effective: 2023-09-26

Exact text from the filing

On September 26, 2023, Know Labs, Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Boustead Securities, LLC and The Benchmark Company, LLC as representatives (the “ Representatives ”) of the underwriters named on Schedule 1 thereto (the “ Underwriters ”), relating to the Company’s registered public offering (the “ Offering ”) of shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”).

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271 material agreements filed in the last 30 days. Browse all material agreements →

USBC, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-012435

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