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A U.S.-based medicaldevice company recently completed its successful uplisting to the New York Stock Exchange (NYSE)American exchange. Know Labs Inc. (NYSEAMERICAN: KNW) raisedover $8 million from its public offering of common stock.
Know Labs announced listing approval to NYSE American in mid-September as an excitingopportunity to join the exchange for growing companies and closed itspublic offering within four days. It increased the public offering ofstock by 15% from the original filing as part of its over-allotmentoption. Though it initially announced trading a public offering of 3.6 million at $2 a share, it ended uptrading 4.14 million.
This increasemeans Know Labs closed with over $1 million more than anticipated —raising $8.28 million before underwriting discounts, commissions andother expenses. This high trading activity is not unfamiliar to KnowLabs. The company’s recent high trading volume saw it added to the OTCQB Venture Market’s Top10 Most Active list.
Bringing Its Cutting-Edge Tech To EmergingCompanies Exchange
Know Labs was uplisted to the NYSE American under the symbolKNW, changing from its previous symbol KNWN as it will no longer betraded on the over-the-counter (OTC) market. As an emerging companylooking for cutting-edge medical tech solutions, Know Labs will use the money raised from the stock sales for further research anddevelopment as well as sales and marketing, working capital, capitalinvestments and various administrative expenses.
Know Labs is committedto making a difference in the lives of millions of people around theworld by developing convenient affordable non-invasive medicaldiagnostics solutions. Know Labs has been focused on the research anddevelopment of proprietary spectroscopic technologies using theelectromagnetic spectrum to accurately identify and measure a widerange of organic and inorganic materials, molecules, and compositionsof matter.he company refers to it as Bio-RFID™ (bodyradio frequency identification).
Know Labs has been working on applying Bio-RFID tomonitor blood glucose levels, a fast-growing multi-billion market. TheCompany claims to have 89 patents granted, pending or in-fillingprocess, which could position it as the top worldwide IP holder innon-invasive blood glucose monitoring.Other companies innovating withtechnology for diabetic patients include Novo Nordisk A/S (NYSE: NVO) and Movano Inc. (NASDAQ: MOVE).
Know Labs also claimsBio-RFID has more than 100 uses beyond glucose monitoring. Theseinclude the identification of blood levels of oxygen, alcohol andmetabolized drugs. Its versatile technology platform can be integratedinto various wearable, mobile or bench-top form factors, meaning thecompany may produce low-cost, noninvasive diagnostic technologies witha broad spectrum of applications and uses across industries.
To learn more about Know Labs, visit its website .
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