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0.0137741046831958 0.0137741046831958 0.0137741046831958 0.019283746556474 0.0842975206611571 0.0457300275482094 0.0457300275482094 0.0468319559228651
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Kraig Biocraft Laboratories Secures $10 Million SEPA to Support Spider Silk Production Growth and Commercialization

KRAIG BIOCRAFT LABS INC (KBLB) 
NASDAQ:AMEX Investor Relations: kraiglabs.com/investors
Company Research Source: GlobeNewswire
ANN ARBOR, Mich., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), a leading developer of spider silk-based fibers, announces that it has secured $10 million in a standby equity purchase agreement ("SEPA") with YA II PN, Ltd. ("Yorkville"). This agreement will provide the Company with access to the working capital necessary to continue production expansion for its revolutionary recombinant spider silk fibers and materials. Kraig Labs structured the SEPA to allow the Company to access capital over the next 36 months, when and how it determines best for the growth of spider silk production and end-market development. The Company is under no obligation to utilize this funding, has no minimum use requirements, and it does not impose any restrictions on the Company's operations. This agreement gives the Company the flexibility to access the capital necessary to bridge its transition to revenue generation. “We have worked Show less Read more
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