(RTTNews) - Know Labs, Inc. (KNW), announced that it has entered into a definitive agreement with Goldeneye 1995 LLC, an affiliate of fintech investor and former Ripple Chief Risk Officer Greg Kidd, to acquire a controlling interest in the Company.
As part of the transaction, Kidd will assume the roles of Chief Executive Officer and Chairman of the Board upon closing.
The transaction marks a significant strategic shift for Know Labs, introducing a Bitcoin treasury strategy as a key component of the company's financial model.
The Buyer will acquire common shares at a per-share price of $0.335, with consideration including 1,000 Bitcoin and a cash component to eliminate existing debt, redeem preferred equity, and fund ongoing operations.
"Deploying a Bitcoin-based treasury strategy through Know Labs allows us to bring institutional-grade digital asset management into the public markets," said Greg Kidd.
He added that, "This move supports a new model for sustainable, asset-backed growth while preserving the company's core innovation in non-invasive diagnostics."
At closing, Know Labs' balance sheet will include Bitcoin as its principal asset. Management will begin reporting against a multiple of net asset value or mNAV framework.
Based on a market cap of $128 million and assuming a Bitcoin price of $105,000, the implied entry mNAV multiple is 1.22x, with Bitcoin comprising 82% of total market capitalization.
Founder Ron Erickson will transition to the role of Vice Chairman of the Board and serve as President of a new division that will continue the company's diagnostic technology research and development.
The transaction has been unanimously approved by the Know Labs Board of Directors and is expected to close in Q3 2025, subject to shareholder approval and customary closing conditions.
Currently, KNW is trading at $3.13, up by 100.21 percent on the New York St0ck Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
