During the Nasdaq review process, the company's common stock will continue to trade on the OTCQB under its current symbol, KBLB.
“After significantly strengthening our technology, business model, and corporate governance, to position Kraig Labs for future growth, an uplisting to the Nasdaq Capital Market is the natural evolution for the company and our shareholders. We are pleased to be working on the process with the Maxim Group for this raise of up to $24 million,” said Kim Thompson, Kraig Biocraft Laboratories’ CEO and chairman of the board. "Kraig Labs has been blessed with loyal shareholders, and we expect that moving to Nasdaq will raise the company's visibility and expand our shareholder family."
Management of Kraig Biocraft Laboratories believes that listing on the Nasdaq Capital Markets will expand opportunities for the company’s recombinant spider silk materials within the technical textiles markets. Analysts forecast that the global technical textile market was valued at nearly $235 billion in 2017, and is projected to reach about $335 billion by 2025, growing at a CAGR of 4.5 per cent from 2018 to 2025.
The company has filed a registration statement with the Securities and Exchange Commission on Form S-1, which has not yet become effective, and plans to conduct an offering of its securities in order to raise sufficient funds to meet the Nasdaq requirements as well as fund its continued growth and operations. No securities may be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Fibre2Fashion News Desk (PC)
| On 14th May 2021
In its Spring 2021 Economic Forecast, the European Commission has...
Record global cotton supply will drive higher consumption as recovery ...
| On 14th May 2021
US retail giant Walmart is acquiring Zeekit, a female-founded,...
Money never disappears-it just finds new opportunities
Indian apparel industry looks poised for slow death
Still struggling to mop up higher sales
P V Kadole
Nine co-operative organisations from Ichalkaranji came together to form an ...
With the support of the first investors - Finland's Technical Research...
Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...
Ventile is a registered trademark used to brand a special high-quality...
Sameer Sonkusale & Rachel Owyeung
A team at the Tufts University in Massachusetts was recently in news for...
From May 14 to 17, international exhibitors will present the entire...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Tahweave & Garo
Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...
The creations by Aprajita Toor were born out of a deep desire to create...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.