Know Labs, which is developing a non-invasive glucose monitor using biosensor technology, raised $7 million by offering 3.6 million shares at $2, below the last close of its shares on the OTC ($2.53). The company offered 0.6 million more shares than anticipated.
Formerly listed on the Know Labs is focused on the development and commercialization of proprietary biosensor technologies which, when paired with its AI deep learning platform, are capable of identifying and measuring materials and analytes (the Bio-RFID technology platform). The early-stage company is initially using its Bio-RFID technology to develop a non-invasive glucose monitor.
Know Labs plans to list on the NYSE American under the symbol KNW. Boustead Securities acted as sole bookrunner on the deal.
