Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
Know Labs, Inc. (NYSE:KNW), currently trading at $2.74 with a market capitalization of $20.69 million, announced Friday that shareholders approved several proposals at a special meeting held Thursday, according to a press release statement based on a recent SEC filing. According to InvestingPro analysis, the company’s stock has shown significant volatility, with a 13% gain over the past week despite being down nearly 80% over the past year.
Shareholders voted to amend the company’s Articles of Incorporation, increasing the number of authorized shares of common stock from 7,500,000 to 750,000,000. The Certificate of Amendment was filed with the Nevada Secretary of State and became effective on July 31, 2025.
The meeting also saw approval for an amendment to the company’s 2021 Equity Incentive Plan, increasing the number of shares available for issuance by 48,950,000 shares of common stock.
Additionally, shareholders approved the issuance of shares representing more than 19.99% of outstanding common stock as of June 6, 2025, and the resulting change of control, pursuant to a private placement agreement with Goldeneye 1995 LLC, in accordance with NYSE American rules.
The company reported that as of the June 20, 2025 record date, there were 7,497,948 shares of common stock outstanding and eligible to vote. At the meeting, 5,380,965 shares, or 56.18% of outstanding company stock, were represented in person or by proxy, meeting the quorum requirement.
Voting results for the proposals were as follows:
- The increase in authorized common stock received 5,036,628 votes in favor, 329,796 against, and 14,541 abstentions.
- The private placement proposal received 5,085,670 votes in favor, 266,619 against, and 28,676 abstentions.
- The amendment to the equity incentive plan received 4,777,847 votes in favor, 582,030 against, and 21,088 abstentions.
- Shareholders also approved the adjournment proposal, with 5,056,030 votes in favor, 276,389 against, and 48,546 abstentions.
All proposals described in the company’s proxy statement filed on June 30, 2025, were approved.
This information is based on a press release statement and the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Know Labs, Inc. is set to be acquired by Goldeneye 1995 LLC, an affiliate of fintech investor Greg Kidd. This acquisition will result in a significant change in ownership and leadership for the company. Greg Kidd is expected to take on the roles of Chief Executive Officer and Chairman of the Board of Directors once the transaction is finalized. The transaction is anticipated to close in the third quarter of 2025. The agreement includes the purchase of Know Labs’ common stock, with the number of shares determined by a formula involving 1,000 Bitcoin and additional cash. This cash will cover existing debts, preferred equity redemption, and working capital, divided by a share purchase price of $0.335. These recent developments highlight a pivotal moment for Know Labs as it transitions under new leadership.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.