Know Labs Secures U.S. $12M Funding With Lind Global Fund II LP For Company's Further Execution On Its Clinical Research And Development Initiatives
Portfolio Pulse from Happy Mohamed
Know Labs, Inc. (NYSE:KNW) has secured a funding agreement with Lind Global Fund II LP for up to $12 million to accelerate its non-invasive medical diagnostic technology development. The initial $4 million funding is through convertible secured notes, with provisions for conversion into shares at a premium and issuance of a warrant for purchasing additional shares. This investment aims to support Know Labs' efforts in hardware development, clinical research, algorithm development, and intellectual property expansion, particularly for its wearable continuous glucose monitor pending FDA clearance.
February 29, 2024 | 9:42 pm
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Know Labs, Inc. receives up to $12M funding from Lind Global Fund II LP to advance its non-invasive medical diagnostic technology, including a wearable glucose monitor.
The funding agreement with Lind Global Fund II LP provides Know Labs with significant financial resources to accelerate its development projects, including the much-anticipated wearable glucose monitor. The initial $4 million funding and the terms of the convertible notes and warrants suggest a strong vote of confidence in Know Labs' technology and future prospects. This investment is likely to be viewed positively by the market, potentially leading to a short-term uptick in KNW's stock price as it reflects investor optimism about the company's accelerated development path and future FDA submission.
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IMPORTANCE 90
RELEVANCE 100