Crown ElectroKinetics Implements 1-for-150 Reverse Stock Split

Crown ElectroKinetics Corp. (NASDAQ: CRKN) recently announced the successful implementation of a reverse stock split, where the company’s issued common stock underwent a 1-for-150 ratio adjustment. The decision to execute the reverse stock split was made official through the filing of a Certificate of Amendment on January 28, 2025. This adjustment was effectuated to enhance the company’s market position and is deemed effective as of 11:59 p.m. Eastern Time on January 29, 2025.

The reverse stock split was pre-approved by both the Company’s Board of Directors and its stockholders. Following this corporate action, Crown ElectroKinetics Corp.’s common stock commenced trading on a split-adjusted basis at the market opening on Thursday, January 30, 2025. The new CUSIP number assigned to the common stock post-split is 228339 503. Notably, the reverse stock split does not impact the total number of authorized shares of common stock held by the Company.

Every 150 shares of the company’s common stock were consolidated into one share, standardizing all stockholders’ interests uniformly without altering their proportional ownership in the corporation. In cases where fractional shares were anticipated, these were rounded up to the nearest whole number to simplify the process. The reverse stock split was a strategic move initiated to maintain Crown ElectroKinetics’ listing compliance on the Nasdaq Capital Market, essential for the company’s growth trajectory and credibility.

In a statement regarding the reverse stock split, Doug Croxall, the Chief Executive Officer of Crown ElectroKinetics, highlighted the significance of this corporate decision in fortifying the firm’s foundation for sustained success. Croxall emphasized that the company is now better positioned in terms of financial robustness with over $25 million in cash reserves, burgeoning revenues, and promising prospects for expanding its innovative solutions range.

The recent addition of Andy Mayer and his team to Crown ElectroKinetics signifies a pivotal juncture for the company. Mayer’s extensive background in the pipeline industry and disaster recovery augments the solutions portfolio, paving the way for significant partnerships. Croxall expressed confidence in Crown’s capacity to contribute meaningfully to California’s rehabilitation and reconstruction efforts post the devastating wildfires. He noted that these new capabilities open avenues for growth, positioning Crown as a frontrunner in pioneering infrastructure solutions.

For comprehensive details on the reverse stock split and accompanying corporate updates, interested parties are directed to refer to Crown ElectroKinetics’ filings with the Securities and Exchange Commission (SEC) on their official website.

About Crown ElectroKinetics Corp.
Crown ElectroKinetics Corp. (Nasdaq: CRKN) is a trailblazing provider of innovative technology infrastructure solutions aimed at benefiting communities and the environment. The company operates within three primary business divisions: Smart Windows, Construction, and Water Solutions, with a focus on pushing boundaries and setting new industry benchmarks. For further information, visit www.crownek.com.

Forward-Looking Statements
This release may contain forward-looking statements within the meaning of applicable securities laws, reflecting uncertainties and contingencies. These statements are based on current expectations, involving risks and assumptions that may lead to material differences between expressed intentions and actual outcomes. The company undertakes no obligation to update these statements post this release date.

This news release does not constitute a formal offer to sell securities. Unregistered securities cannot be sold or offered in the United States, lacking specific registration or exemptions from registration requirements.

For further details or inquiries, please reach out to:
Investor Relations: [email protected]
Public Relations: [email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Crown ElectroKinetics’s 8K filing here.

About Crown ElectroKinetics

Crown ElectroKinetics Corp. engages in the commercialization of electro kinetic technology for use in the smart glass market. It develops and sells optical switching film that can be embedded between glass or applied to the surface of glass or other rigid substrates such as acrylic, to electronically control opacity.