Crown Electrokinetics regains compliance with Nasdaq listing rules

Crown Electrokinetics announced that on September 1, 2023, the Company was notified by The Nasdaq Stock Market that the Company has regained compliance with all applicable requirements for continued listing on The Nasdaq Capital Market. The Company was also notified that, in accordance with Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a “Panel Monitor” through September 1, 2024. If, within that one-year monitoring period, the Company falls out of compliance with the minimum equity requirement for continued listing on the Capital Market, and notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company will not be permitted to provide the Listing Qualifications Department with a compliance plan and the Staff will not be permitted to grant additional time to the Company to regain compliance. Instead, the Staff will issue a delist letter and the Company will have an opportunity to request a new hearing before the Panel, which request will stay any delisting action by the Staff.