Greg Kidd and Know Labs Announce $100M Acquisition, Name Change to USBC, and Launch of USBC Token

Greg Kidd and Know Labs have announced the closing of a $100 million strategic acquisition, with Kidd leading the new company, USBC, as Chairman and CEO. The company's corporate name and ticker symbol will change to USBC, and Kidd will employ a yield generation treasury strategy using 1,000 Bitcoin. USBC token will set a new vision for the company, centered on digital identity and blockchain technology.

Know Labs, Inc. (NYSE American: KNW) has successfully closed a strategic acquisition involving a $100 million contribution from Greg Kidd's affiliate, Goldeneye 1995, LLC. The deal, which includes 1,000 Bitcoin and $15 million in cash, has led to the creation of a new entity, USBC, Inc., with a focus on digital identity and blockchain technology.

Under the terms of the agreement, Greg Kidd has been appointed as the Chairman and CEO of USBC, with Linda Jenkinson as Vice Chair, Kirk Chapman as COO, and Kitty Payne as CFO. Ron Erickson, the founder of Know Labs, will serve as President of a new division focused on diagnostic research and as Lead Director on the Board.

The acquisition involved the issuance of 357.8 million new common shares. The Bitcoin will be employed in a yield generation treasury strategy, while the cash will be used to retire existing debt, redeem preferred equity, and provide working capital.

Effective August 15, 2025, the company's corporate name will change to USBC, Inc., and its ticker symbol will change from KNW to USBC. The company's shares will continue to trade on the NYSE American under the new name.

USBC's new vision is centered around the USBC token, a U.S.-dollar denominated token leveraging digital identity and blockchain technology. The token aims to deliver high-yield rewards through the USBC mobile app.

The acquisition and rebranding are part of Know Labs' transition into a multi-disciplinary enterprise that strategically invests in pioneering technologies spanning digital assets and banking. The company's new focus includes deploying a Bitcoin treasury strategy and investing in the further development of the USBC token.

Advisors to the transaction include Cohen & Company Capital Markets, Lowenstein Sandler LLP, and Sichenzia Ross Ference Carmel LLP.

References:
[1] https://www.stocktitan.net/news/KNW/greg-kidd-know-labs-announce-closing-of-100-m-strategic-p57t65lmp0fo.html