Greg Kidd & Know Labs Announce Closing of [$100]M Strategic Acquisition
Know Labs (NYSE American:KNW) announced the successful closing of a strategic acquisition by Greg Kidd's affiliate Goldeneye 1995, LLC, involving a contribution of 1,000 Bitcoin and $15 million in cash for 357.8 million new common shares. The company will be renamed to USBC, Inc. and change its ticker to USBC effective August 15, 2025.
Greg Kidd has been appointed as CEO and Chairman, introducing a new vision centered on the USBC token - a U.S.-dollar denominated, blockchain-based token offering high-yield rewards. The leadership transition includes Linda Jenkinson as Vice Chair, Kirk Chapman as COO, and Kitty Payne as CFO. Know Labs founder Ron Erickson will serve as President of a new division focused on diagnostic research and as Lead Director.
Know Labs (NYSE American:KNW) ha annunciato la conclusione con successo di un'acquisizione strategica da parte dell'affiliata di Greg Kidd, Goldeneye 1995, LLC, che ha contribuito con 1.000 Bitcoin e 15 milioni di dollari in contanti in cambio di 357,8 milioni di nuove azioni ordinarie. La società sarà rinominata USBC, Inc. e cambierà il suo ticker in USBC a partire dal 15 agosto 2025.
Greg Kidd è stato nominato CEO e Presidente, introducendo una nuova visione incentrata sul token USBC - un token basato su blockchain, denominato in dollari USA, che offre ricompense ad alto rendimento. La transizione della leadership include Linda Jenkinson come Vice Presidente, Kirk Chapman come COO e Kitty Payne come CFO. Il fondatore di Know Labs, Ron Erickson, assumerà il ruolo di Presidente di una nuova divisione dedicata alla ricerca diagnostica e sarà Lead Director.
Know Labs (NYSE American:KNW) anunció el cierre exitoso de una adquisición estratégica por parte de la afiliada de Greg Kidd, Goldeneye 1995, LLC, que contribuyó con 1,000 Bitcoins y 15 millones de dólares en efectivo a cambio de 357.8 millones de nuevas acciones comunes. La compañía cambiará su nombre a USBC, Inc. y su símbolo bursátil será USBC a partir del 15 de agosto de 2025.
Greg Kidd ha sido nombrado CEO y Presidente, presentando una nueva visión centrada en el token USBC, un token basado en blockchain y denominado en dólares estadounidenses que ofrece recompensas de alto rendimiento. La transición de liderazgo incluye a Linda Jenkinson como Vicepresidenta, Kirk Chapman como COO y Kitty Payne como CFO. Ron Erickson, fundador de Know Labs, asumirá el cargo de Presidente de una nueva división enfocada en investigación diagnóstica y será Director Principal.
Know Labs (NYSE American:KNW)는 Greg Kidd의 계열사 Goldeneye 1995, LLC가 1,000 비트코인과 1,500만 달러 현금을 출자하여 3억 5,780만 주의 신주를 인수하는 전략적 인수를 성공적으로 마무리했다고 발표했습니다. 회사명은 USBC, Inc.로 변경되며, 2025년 8월 15일부터 티커도 USBC로 변경됩니다.
Greg Kidd가 CEO 겸 회장으로 임명되어, 미국 달러로 표시되고 블록체인 기반의 고수익 보상을 제공하는 USBC 토큰을 중심으로 한 새로운 비전을 제시합니다. 리더십 전환에는 Linda Jenkinson 부회장, Kirk Chapman COO, Kitty Payne CFO가 포함됩니다. Know Labs 창립자 Ron Erickson은 진단 연구에 집중하는 새로운 부서의 사장 겸 수석 이사로 활동할 예정입니다.
Know Labs (NYSE American:KNW) a annoncé la clôture réussie d'une acquisition stratégique par la filiale de Greg Kidd, Goldeneye 1995, LLC, impliquant une contribution de 1 000 Bitcoins et 15 millions de dollars en espèces en échange de 357,8 millions de nouvelles actions ordinaires. La société sera renommée USBC, Inc. et changera son symbole boursier en USBC à compter du 15 août 2025.
Greg Kidd a été nommé CEO et Président, introduisant une nouvelle vision centrée sur le token USBC - un token basé sur la blockchain, libellé en dollars américains, offrant des rendements élevés. La transition de la direction comprend Linda Jenkinson en tant que Vice-Présidente, Kirk Chapman comme COO et Kitty Payne comme CFO. Le fondateur de Know Labs, Ron Erickson, assumera le rôle de Président d'une nouvelle division dédiée à la recherche diagnostique et sera Directeur Principal.
Know Labs (NYSE American:KNW) gab den erfolgreichen Abschluss einer strategischen Übernahme durch Greg Kidds Tochtergesellschaft Goldeneye 1995, LLC bekannt, die 1.000 Bitcoin und 15 Millionen US-Dollar in bar für 357,8 Millionen neue Stammaktien einbrachte. Das Unternehmen wird in USBC, Inc. umbenannt und ändert sein Börsensymbol am 15. August 2025 auf USBC.
Greg Kidd wurde zum CEO und Vorsitzenden ernannt und bringt eine neue Vision ein, die sich auf den USBC-Token konzentriert – einen in US-Dollar denominierten, blockchainbasierten Token, der hohe Renditen bietet. Zum Führungsteam gehören Linda Jenkinson als Vizevorsitzende, Kirk Chapman als COO und Kitty Payne als CFO. Der Gründer von Know Labs, Ron Erickson, wird Präsident einer neuen Abteilung für diagnostische Forschung und fungiert als Lead Director.
- Strategic acquisition brings 1,000 Bitcoin and $15M cash injection to strengthen balance sheet
- New USBC token initiative introduces potential revenue stream through high-yield rewards
- Debt retirement and preferred equity redemption improves financial structure
- Retention of diagnostic research division maintains valuable IP and research capabilities
- Significant dilution through issuance of 357.8M new common shares
- Complete shift in business strategy from medical technology to digital currency
- Execution risks in transitioning to new blockchain-based business model
- Potential regulatory uncertainties surrounding digital token operations
Insights
Know Labs' acquisition by Greg Kidd marks a complete strategic pivot from medical diagnostics to blockchain technology with significant Bitcoin treasury strategy.
This transaction represents a fundamental transformation of Know Labs, shifting from a medical diagnostics company to a blockchain-focused entity. The acquisition involves Greg Kidd's affiliate contributing
The strategic shift is comprehensive: new name (USBC), new leadership team, new business model centered on a dollar-denominated blockchain token. The company plans to utilize the Bitcoin contribution in a yield generation treasury strategy – likely involving staking or lending to generate passive income from the crypto assets rather than simply holding them.
The USBC token appears designed to be a regulated stablecoin alternative with identity verification components and yield-generating capabilities. This positions the company at the intersection of traditional finance and blockchain technology, potentially capitalizing on institutional demand for compliant digital assets.
While the original Know Labs business isn't being abandoned entirely, it's being significantly downgraded from the company's core focus to a division under founder Ron Erickson. This represents a remarkable pivot that essentially creates an entirely new company using the public shell of Know Labs, giving investors immediate exposure to the blockchain sector without going through a traditional IPO process for a crypto company.
This acquisition fundamentally alters Know Labs' capital structure and financial positioning. The
The yield generation strategy for Bitcoin holdings introduces both opportunity and risk. While Bitcoin lending/staking can generate
From a shareholder perspective, this represents massive dilution through the issuance of 357.8 million new shares, but provides entry into the growing blockchain sector and eliminates debt burden. The transaction structure suggests a valuation of approximately
The financial stability now depends heavily on cryptocurrency market movements, creating significant volatility exposure. While the company retains its medical technology division, the restructuring clearly prioritizes the blockchain business, with financial resources likely directed primarily toward developing the USBC token ecosystem rather than the original medical diagnostics technology.
Contribution of 1,000 Bitcoin to employ yield generation treasury strategy
Corporate name and ticker symbol will change to USBC
Greg Kidd to lead USBC as Chairman and CEO; USBC token sets new vision
CRYSTAL BAY, NV AND SEATTLE, WA / ACCESS Newswire / August 6, 2025 / Greg Kidd and Know Labs, Inc. (NYSE American:KNW) ("Know Labs" or the "Company") today announced the successful closing of the strategic acquisition of a controlling interest in the Company by Goldeneye 1995, LLC ("Buyer"), an affiliate of Mr. Kidd, on August 6, 2025, following approval by the Company's shareholders. Upon closing of the transaction, Mr. Kidd was appointed Chief Executive Officer and Chairman of the Board of Directors.
Subsequent to closing, the Company's corporate legal name will change to USBC, Inc., and its ticker symbol will change from KNW to USBC, unveiling a new vision centered on the USBC token. The USBC token is a U.S.-dollar denominated token leveraging digital identity and blockchain technology that is fully redeemable and earns high-yield rewards.
"The USBC token is an inclusive, compliant, and programmable digital dollar," said Greg Kidd. "We believe this approach delivers a new standard for trust and utility in digital money, generating sustainable growth, and long-term value creation for our shareholders."
USBC founding team member Linda Jenkinson has been appointed Vice Chair of the Board. As part of this board leadership transition, the composition of the full board of directors will be further assessed to ensure alignment with the Company's new strategic direction. Joining Mr. Kidd's executive leadership team are USBC founding team members Kirk Chapman as Chief Operating Officer and Kitty Payne as Chief Financial Officer, effective immediately. Ms. Payne and Mr. Chapman will lead the execution of the Company's new vision and will be supported by veteran USBC team members who designed and developed the USBC platform from its inception, bringing with them decades of expertise in technology and finance.
Know Labs founder, Ron Erickson, will serve as President of a new division of the Company that has retained a team of scientists to continue its proprietary diagnostic research in non-invasive medical technology. Mr. Erickson will provide his visionary guidance and strategic oversight in the role of Lead Director on the Company's Board.
Under the terms of the previously announced agreement, the Buyer contributed 1,000 Bitcoin and
Effective August 15, 2025, the Company's ticker symbol will change from KNW to USBC. Shares of the Company's common stock will continue to trade on the NYSE American under the new name USBC, Inc. (NYSE American:USBC) and the CUSIP number will remain unchanged. No shareholder action is required in connection with these changes.
Advisors
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC served as exclusive financial advisor and Lowenstein Sandler LLP acted as legal advisor to the Buyer. Sichenzia Ross Ference Carmel LLP acted as legal advisor to the Company.
About Know Labs, Inc.
Know Labs, Inc., is a publicly traded, industry leading technology company developing transformative financial services and non-invasive health monitoring solutions. Under the leadership of newly-appointed Chairman and CEO, Greg Kidd, the Company has begun its transition into a multi-disciplinary enterprise that also strategically invests in pioneering technologies spanning digital assets and banking.
As part of this shift, the Company is deploying a Bitcoin treasury strategy and investing in the further development of the USBC token, a digital U.S. dollar operating on blockchain technology embedded with digital identity that pays high-yield rewards through the USBC mobile app. With a focus on identity, inclusion, innovation, and risk management, the Company is dedicated to creating long-term shareholder value in a rapidly evolving financial landscape.
Follow Greg Kidd's insights on Substack covering news, industry perspectives, and updates from the USBC ecosystem: https://usbc.substack.com/
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the current intent, beliefs, expectations and assumptions of the Company, its directors or its officers regarding the future of its business, future plans and strategies including its cryptocurrency treasury strategy, projections, anticipated events and trends, the economy and other future conditions, current state and federal securities laws, and other laws and regulations related to digital assets . Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. No forward-looking statement is a guarantee of future performance. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of Bitcoin and any associated unrealized gains or losses on digital assets that the Company may incur as a result of a decrease in the market price of Bitcoin below the value at which the Company's Bitcoin are carried on its balance sheet; (ii) the effect of and uncertainties related to the ongoing volatility in interest rates; (iii) the Company's ability to achieve and maintain profitability in the future; (iv) the impact of the regulatory environment on the Company's business and complexities with compliance related to such environment including changes in state or federal securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company's Bitcoin holdings; (vi) the Company's ability to respond to general economic conditions; (vii) the Company's ability to manage its growth effectively and its expectations regarding the development and expansion of its business; (viii) the Company's ability to access sources of capital, including equity and debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully detailed in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K for the fiscal year ended September 30, 2024, Forms 10-Q and 8-K, and other reports filed with the SEC from time to time. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are only made as of this date, and the Company undertakes no duty to update such information after the date of this announcement except as required under applicable law.
Know Labs Contact:
Alliance Advisors
investors@usbc.xyz
SOURCE: Know Labs
View the original press release on ACCESS Newswire
FAQ
What is the value of Greg Kidd's acquisition of Know Labs (KNW)?
When will Know Labs (KNW) change its name and ticker symbol to USBC?
Who are the new executives leading USBC after the acquisition?
What happens to Know Labs' original medical technology business?
What is the USBC token introduced by the new management?
