Crown Electrokinetics Corp. - CRKN STOCK NEWS

Crown Electrokinetics Corp. (Nasdaq: CRKN) announced an update on its Nasdaq listing status following non-compliance with the minimum bid price requirement. The company received a notification on September 1, 2022, indicating its common stock traded below $1.00 for 30 days. After a grace period until February 28, 2023, the company failed to regain compliance. Consequently, it has requested a hearing to seek an extension, with the potential to extend the deadline until September 5, 2023. However, there is no certainty that the request will be granted or that compliance will be achieved.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced an agreement with a subsidiary of a major U.S. telecommunication infrastructure company, expanding its customer base and geographic coverage into Washington, with further plans for Oregon and California. CEO Doug Croxall stated that the new agreement adds a second customer for their fiber optics division, enhancing revenue opportunities and reducing customer concentration risk. This follows a recent asset purchase agreement with Amerigen 7 to enhance the marketing of distributed antenna systems and to generate cash flow from fiber optic network construction for Charter Communications.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has secured a line of credit for up to $100 million, enhancing its ability to expand fiber optic projects in the Great Lakes region and beyond. CEO Doug Croxall noted that this funding will also support growth in the distributed antenna systems (DAS) market and further development of their Smart Window Insert product. The company recently acquired assets from Amerigen 7, expected to generate approximately $30 million in revenue and $10 million in EBITDA in 2023. Crown aims to address inefficiencies in building windows and improve cellular signal strength for clients.

Crown Electrokinetics Corp. (CRKN) announced an asset purchase agreement with Amerigen 7, which will enhance its smart glass technology offerings and enable the company to provide distributed antenna systems (DAS) and fiber optic networks. This acquisition is expected to contribute approximately $30 million in revenue and $10 million in EBITDA for 2023. Crown Fiber Optics, the rebranded Amerigen 7, has a signed purchase order for a $67 million project with Charter Communications, indicating strong growth potential in a market projected to reach $15.7 billion by 2030.

Crown Electrokinetics Corp. (CRKN) announced an acquisition of Amerigen 7, which will be rebranded as Crown Fiber Optics. This strategic move is expected to enhance Crown's offerings in distributed antenna systems and fiber optic infrastructure. The acquisition includes a $67 million purchase order from Charter Communications to expand their fiber optic network in Ohio, projected to generate $30 million in revenue and $10 million in EBITDA for 2023. The total cash outlay for acquiring Amerigen 7 is $645,000.

Crown Electrokinetics Corp. (NASDAQ: CRKN) urges shareholders to vote for management proposals outlined in its Form DEF 14A, filed with the SEC on November 25, 2022, ahead of the December 22, 2022 shareholder meeting. These proposals are essential for maintaining its listing on the Nasdaq Capital Market and funding future operations. Shareholders holding shares via brokers need their control number from the proxy card to vote. Crown specializes in smart glass technology, specifically DynamicTint™, which enables glass to change opacity swiftly, enhancing sustainability and reducing carbon emissions.

On November 11, 2022, Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its financial results for Q3 2022. Key highlights include a completed $4 million financing and advancements towards a $30 million debt facility. The company anticipates delivering its first-generation smart window inserts in Q1 2023. Restructuring efforts reduced operational costs by 24%, leading to a monthly cash burn rate of $0.7 million compared to $1.2 million prior to restructuring. Investors can access more information via the company's website.

Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its Q3 2022 financial results on November 11, 2022. The company experienced a net loss of $3.1 million, down from $5.7 million in Q3 2021. Operating expenses totaled $3.1 million. Crown raised $4 million in equity and is advancing towards a $30 million debt facility to support its first-generation smart window product and future manufacturing capabilities, with deliveries expected in Q1 2023. The company maintains a cash position of $0.3 million, aided by a $10 million standby letter of credit.

Crown Electrokinetics Corp. (NASDAQ: CRKN) will report its third quarter financial results for 2022 on November 11, 2022. A conference call featuring CEO Doug Croxall and CFO Joel Krutz will take place at 11:00 a.m. EST to discuss the results. Investors can participate by dialing in or via an audio webcast. Crown specializes in smart glass technology, offering DynamicTint™, which allows glass to transition between clear and dark quickly, presenting a sustainable alternative to traditional window treatments.