Crown Electrokinetics Announces Application for Dual Listing on Upstream

Rhea-AI Summary

Crown Electrokinetics Corp. (NASDAQ: CRKN) announced its intent to dual list shares on Upstream, a digital trading platform for securities and NFTs. This move aims to attract a broader, global investor base by enabling trading using USDC, credit, debit, and PayPal. CEO Doug Croxall emphasized the importance of enhanced liquidity for shareholders. Approval from MERJ is required for the listing, but Crown may qualify for expedited processing due to its current Nasdaq status. The dual listing is expected to improve price discovery and liquidity for investors.

Positive

• Initiation of dual listing process on Upstream enhances shareholder liquidity.
• Access to a global, digital investor base can boost market reach and investment opportunities.

Negative

• Approval for listing is not guaranteed and depends on MERJ's decision.
• Potential market entry into a more volatile digital trading environment.

LOS ANGELES, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company, today announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ”).

The planned dual listing on Upstream is designed to provide the Company the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in NASDAQ-listed Crown.

Speaking about the application to list on Upstream, Doug Croxall, CEO of Crown, said, “We are always looking for ways to provide greater liquidity and value to our shareholders. At the request of some of our larger shareholders, we looked into a dual listing on Upstream and determined it to be an excellent way to reach a worldwide market of potential new investors who can learn about our Company.”

Approval to be listed on Upstream is subject to approval by MERJ. However, as a current Nasdaq issuer Crown may be eligible for an expedited listing process.

About Upstream

Upstream, a MERJ Exchange Market (MERJ Exchange), is a fully regulated global stock exchange for digital securities and NFTs. Powered by Horizon's Ethereum-L2 matching engine technology, the platform enables users to trade NFTs, and invest in securities for IPOs, crowdfunded companies, U.S. & international equities, and celebrity ventures using the Upstream app. For more information, please visit https://upstream.exchange. Upstream is currently accepting applications to dual list at https://upstream.exchange/GetListed.

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of DynamicTint™ We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. At the core of our technology is a thin film that is powered by electrically charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio.

Safe Harbor Statement: 

Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. 

Crown Electrokinetics

IR Email: info@crownek.com

Source: Crown Electrokinetics: www.crownek.com 

FAQ

What is Crown Electrokinetics planning regarding its stock?

Crown Electrokinetics is applying for a dual listing on Upstream to access a broader investor base.

How will the dual listing on Upstream benefit CRKN shareholders?

The dual listing is expected to enhance liquidity and provide new investment opportunities through digital currencies.

When did Crown Electrokinetics announce the dual listing?

The announcement was made on October 25, 2022.

What is Upstream in relation to CRKN?

Upstream is a platform for trading digital securities and NFTs where CRKN plans to dual list its shares.

Is the dual listing of CRKN on Upstream guaranteed?

No, the dual listing is subject to approval by MERJ.