Crown Electrokinetics announces 1-for-60 reverse stock split

Crown Electrokinetics announces that it expects to implement a 1-for-60 reverse stock split on its common stock effective 11:59 p.m. Eastern Time on Monday, August 14, 2023, with trading to begin on a split-adjusted basis at the market open on August 15, 2023. Trading in the common stock will continue on the Nasdaq Capital Market under the symbol “CRKN“. The new CUSIP number for the common stock following the reverse stock split is 228339305. The reverse stock split at a ratio of 1-for-60 shares was approved by the Company’s Board of Directors through unanimous written consent on August 11, 2023 and the Company’s stockholders at the Annual Meeting which was held on August 11, 2023. Upon the effectiveness of the reverse stock split, every 60 shares of the Company’s issued and outstanding common stock will automatically be converted into one share of issued and outstanding common stock. No fractional shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split will be rounded up to the next whole number. The reverse stock split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s outstanding common stock, except for adjustments that may result from the treatment of fractional shares.