Greg Kidd will become CEO and Chairman of Know Labs after acquiring a controlling stake using Bitcoin and cash.
Know Labs will adopt a Bitcoin treasury strategy, with Bitcoin making up 82% of its market capitalization.
Founder Ron Erickson will lead a new division focused on non-invasive diagnostic research following the leadership transition.
Know Labs, a U.S.-based health technology firm listed on the NYSE American exchange, is set to undergo a significant leadership and strategic transformation. The company has reached an agreement with Goldeneye 1995 LLC, an affiliate of fintech investor Greg Kidd, to acquire a controlling interest. Following the transaction’s close, Kidd will assume the roles of Chief Executive Officer and Chairman of the Board.
Bitcoin-Funded Acquisition and Treasury Realignment
The transaction involves the Buyer acquiring common stock by dividing the sum of 1,000 Bitcoin and additional cash by the share price of $0.335. The cash will be used to retire current debt, redeem outstanding preferred equity, and provide new working capital. The Bitcoin component of the acquisition will become the core of Know Labs’ treasury reserve.
The company will adopt a BTC treasury strategy following the acquisition. As part of this transition, Know Labs will employ a net asset value multiple (mNAV) to measure the company’s valuation relative to its Bitcoin holdings. Based on a $105,000 price per Bitcoin and a $128 million market capitalization, Bitcoin holdings would account for 82% of total valuation. The implied entry multiple equals 1.22x net asset value.
Leadership Transition and Ongoing Research Division
Ron Erickson, the current founder and CEO, will transition into the role of President of a newly established division. He will also serve as Vice Chairman of the Board. The division will retain a dedicated research team to continue work on non-invasive diagnostic technology. Know Labs previously focused on health monitoring systems using proprietary sensor platforms.
The Board of Directors unanimously approved the transaction. Shareholder approval and regulatory conditions must be satisfied before the agreement can close, which is expected in the third quarter of 2025.
Strategic Rationale and Advisory Roles
Greg Kidd, who previously served as Chief Risk Officer at Ripple, will bring his team and existing digital asset strategy into the public markets through Know Labs. According to the agreement, the Bitcoin treasury structure will support a shift in the company’s capital allocation approach.
The transaction marks Kidd’s latest move in the blockchain and fintech sectors. His team will contribute their existing Bitcoin yield generation strategies under the Know Labs corporate umbrella. The Buyer received legal counsel from Lowenstein Sandler LLP, while Cohen & Company Capital Markets acted as financial advisor. Know Labs retained Sichenzia Ross Ference Carmel LLP as legal advisor during the negotiation process.
