Former Ripple Executive Greg Kidd's Company Reaches Controlling Acquisition Agreement with Know Labs and Launches BTC Financial Strategy for It
Publicly traded company Know Labs, which focuses on non-invasive health monitoring technology, announced that it has reached a controlling acquisition agreement with Goldeneye 1995 LLC, owned by fintech investor Greg Kidd. Kidd, who previously served as Chief Risk Officer at Ripple, will become the company's CEO and Chairman of the Board following the transaction. According to the agreement, the acquirer will complete the transaction at a price of $0.335 per share through a combination of 1,000 Bitcoins (calculated at the current market price) and cash, with the cash portion used for debt repayment and to supplement working capital. The Bitcoins will be included in the company's balance sheet, accounting for 82% of the current market value, with an implied valuation of 1.22 times. Greg Kidd plans to introduce a Bitcoin revenue strategy to the public market. The transaction has been unanimously approved by the board and is expected to be completed in the third quarter of 2025. (Businesswire)
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