Crown Electrokinetics (CRKN) Receives Nasdaq Non-compliance Letter

On March 4, 2024, the Company received another letter from the Staff (the “March Notice”) notifying the Crown Electrokinetics Corp. (NASDAQ: CRKN) that the bid price for the Company’s common stock had closed below $0.10 for the 10-consecutive trading day period ended March 1, 2024 and, accordingly, the Company is subject to the provisions contemplated under Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stock Rule”). As a result, the Staff indicated that the Company’s securities would be delisted from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”).

The Company plans to timely request a hearing before the Panel, which request will stay any further action by Nasdaq at least until the hearing is held and any extension period that may be granted by the Panel expires. The Company’s common stock will continue to trade on Nasdaq under the symbol “CRKN” pending completion of the hearing process. There can be no assurance that the Panel will grant the Company’s request for continued listing or that the Company will be able meet the continued listing requirements during any compliance period that may be granted by the Panel.

You May Also Be Interested In

• Rapid Line sees stock surge with no known corporate cause
• REPAY joins Visa Platform Connect to serve ISO and ISV clients
• Nelnet and PayPal add digital wallet tuition payments at colleges