Crown Electrokinetics Corp. (CRKN) Announces 1:150 Reverse Share Split

June 21, 2024 8:03 AM EDT

Crown Electrokinetics Corp. (NASDAQ: CRKN) announces that it expects to implement a 1-for-150 reverse stock split on its common stock with trading to begin on a split-adjusted basis at the market open on Tuesday, June 25, 2024. 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 228339404.

The reverse stock split at a ratio of 1-for-150 shares was approved by the Company's Board of Directors on June 12, 2024, subject to stockholder approval, and the Company's stockholders at the Annual Meeting which was held on June 14, 2024.

Upon the effectiveness of the reverse stock split, every 150 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.

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