PANews June 6 news, according to Businesswire, Know Labs, a publicly traded company focused on non-invasive health monitoring technology, announced that it has reached a controlling acquisition agreement with fintech investor Greg Kidd's Goldeneye 1995 LLC. Kidd, who previously served as Ripple's Chief Risk Officer, will become the company's CEO and Chairman of the Board after the transaction is completed.
According to the agreement, the acquirer will complete the transaction at a price of $0.335 per share, through a combination of 1000 bitcoins (based on current market value) and cash. The cash portion will be used to pay off debts and supplement working capital. The bitcoins will be included in the company's balance sheet, accounting for 82% of the current market value, implying a valuation of 1.22 times. Greg Kidd plans to introduce a bitcoin revenue strategy to the public market. The company's founder, Ron Erickson, will transition to the president of a new division, continuing to lead technology research and development. The transaction has been unanimously approved by the board of directors and is expected to be completed in the third quarter of 2025.
