Kraig Biocraft updates filing for proposed uplisting, $10M offering (OTCMKTS:KBLB)

Kraig Biocraft Laboratories (OTCQB:KBLB) has updated its filing with the SEC for a proposed $10M offering and uplisting to Nasdaq.

Kraig said in its latest filing that it was looking to offer 1.9M units in the range of $4.25 to $6.25, with an assumed price of $5.25. Each unit would consist of one common share plus one warrant to buy one common share for the assumed price of $5.25.

Underwriters would be granted a 45-day option to buy up to 286K additional shares and/or warrants. Maxim Group is serving as sole bookrunner.

Kraig’s shares are currently traded OTC under the symbol KBLB. The company hopes to list them on Nasdaq or another national exchange under the same symbol.

Based in Michigan, Kraig Biocraft uses recombinant DNA technology to create high-strength fibers for the technical textile and specialty fiber sectors.