Core Viewpoint - Crown Electrokinetics Corp. announced a reverse stock split at a ratio of 1-for-150 shares, effective January 30, 2025, to strengthen its market position and maintain its Nasdaq listing [1][2][4]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 150 shares of common stock into one share, with fractional shares rounded up to the nearest whole share [3]. - The action was approved by the Board of Directors on January 25, 2025, following stockholder approval on January 14, 2025 [2]. Group 2: Company Position and Strategy - The CEO emphasized that the reverse stock split is a necessary step for maintaining the Nasdaq listing, which is crucial for the company's growth and credibility [4]. - Crown currently has a healthy cash balance exceeding $25 million and is experiencing growing revenues, indicating a stronger position compared to the past [4]. - The addition of Andy Mayer and his team is seen as a transformative moment for the company, enhancing its capabilities in the pipeline industry and disaster rehabilitation [4]. Group 3: Company Overview - Crown is an innovative infrastructure solutions provider with three business divisions: Smart Windows, Construction, and Water Solutions, focused on benefiting communities and the environment [6].
Crown Announces Effective Date of Reverse Stock Split