SEATTLE, WA - Know Labs, Inc. (NYSE American:KNW), a $20.33 million market cap company specializing in measuring and controlling devices, announced on Monday an extension to the expiration dates of several warrant agreements with Clayton Struve. The amendments affect four sets of warrants originally set to expire between August 2025 and February 2026, which will now extend to corresponding dates in 2030.
The affected warrants include those issued on August 14 and December 12, 2017, as well as on August 4, 2016, and February 28, 2018. The exercise price for these warrants remains unchanged at $0.25 per share, above the current trading price of $0.18. The total number of warrant shares involved in the extension amounts to 5,769,715. According to InvestingPro data, the stock has experienced significant pressure, declining over 73% in the past year.
This move comes as Know Labs, which trades under the ticker NYSE American:KNW, continues to develop its technology within the industrial applications sector. The extension of the warrant agreements suggests a long-term commitment from both the company and Clayton Struve, although the specific reasons for the extension were not disclosed in the filing.
In other recent news, Know Labs, Inc. has made several significant developments. The company reported a Q3 net loss of $4.1 million for fiscal year 2024, marking an improvement from the previous year. In a recent financing round, Know Labs successfully raised $1.655 million. Additionally, the company extended the maturity date of its debt from September 30, 2024, to September 30, 2025, and increased the interest rate on these notes from 6% to 8%.
The Seattle-based company also announced leadership changes, appointing John Cronin as Interim Chief Technology Officer and Dominic Klyve, Ph.D., as Chief Science Officer. Furthermore, Know Labs' stockholders approved an increase in authorized shares of common stock from 200 million to 300 million and amended the 2021 Equity Incentive Plan, expanding the number of shares available for issuance to 40 million.
Know Labs has been granted an extension by NYSE American LLC to regain compliance with the exchange's listing standards by March 27, 2026. The company also announced a registered direct offering priced at-the-market under NYSE American rules, with gross proceeds expected to be $300,000 before deductions.
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