Kraig Biocraft Laboratories Inc (KBLB)

[EMPATHY]

Spiber Inc. raises an additional 5 billion in funding through value securitization

https://www.spiber.inc/en/news/detail/id=558

Spiber is pleased to announce an additional JPY 5 billion (43,780,250.00 United States Dollars) capital raise through a value securitization structure arranged by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., increasing the total amount raised through this structure to JPY 40 billion. Together with the third-party allocation of new shares announced on September 8 of this year, the total raised between these two fundraising initiatives comes to JPY 64.4 billion of new capital. These funds will be primarily applied to Spiber's production expansion activities in the US, as well as for ongoing material development projects and other initiatives.