Crown Electrokinetics Corp. - CRKN STOCK NEWS

Crown Electrokinetics Corp (NASDAQ: CRKN) announced its second-quarter 2022 results, highlighting significant developments. The company reported a net loss of $4.5 million, including $1.5 million in non-cash stock-based compensation. Key milestones include the execution of two customer purchase orders for Smart Window Inserts™ and the successful raise of $2.1 million in equity financing. Furthermore, the Inflation Reduction Act enhances the value proposition for retrofitted energy improvements, particularly appealing to REIT customers. The company anticipates commencing product manufacturing soon.

Crown Electrokinetics Corp (NASDAQ: CRKN) announced significant milestones in its second quarter 2022 report. The company executed its first two customer purchase orders for smart window inserts in the Bay Area. Additionally, it secured $2.1 million in equity financing and is working on debt financing with an alternative lender. Financially, Crown reported a net loss of $4.5 million, down from $5.4 million in Q2 2021, while operating expenses were also reduced. The company holds $1.0 million in cash, backed by a $10 million standby letter of credit.

Crown Electrokinetics Corp. (NASDAQ: CRKN) announced it will release its second quarter financial results on August 15, 2022, at 4:30 p.m. ET. The company, known for its DynamicTint™ smart glass technology, will host a conference call featuring remarks from CEO Doug Croxall and CFO Joel Krutz. Investors unable to attend the live call can access a replay until August 29, 2022. DynamicTint™ technology enables rapid transition between clear and dark glass, promoting sustainability and energy efficiency.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has successfully closed recent equity raises crucial for its manufacturing plans amidst market challenges. On July 20, 2022, the company announced a public offering of $1.0 Million in common stock, alongside a Series D Preferred Stock round raising $1.1 Million. This funding is aimed at accessing non-dilutive debt financing to support production of Smart Window Inserts™, projected to generate annual revenues of approximately $220 million with an EBITDA of $40 million. Crown targets U.S. office buildings to lower HVAC costs and carbon footprints.

Crown Electrokinetics Corp. (NASDAQ: CRKN) announced an underwritten public offering of 1,250,000 shares at $0.80 per share, generating gross proceeds of $1,000,000. The offering includes a 30-day option for underwriters to purchase an additional 187,500 shares. This transaction is set to close on July 22, 2022, subject to customary conditions. Proceeds will be utilized for general corporate purposes and working capital. The offering is registered under Form S-3, effective since January 21, 2022.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced an underwritten public offering of 1,250,000 shares at $0.80 each, aiming for gross proceeds of $1 million. The offering will close on June 22, 2022, pending customary closing conditions. Additionally, underwriters have a 30-day option for 187,500 additional shares. Funds will be allocated for general corporate purposes and working capital. This offering is registered under SEC Form S-3, effective January 21, 2022.

Crown Electrokinetics Corp. (NASDAQ: CRKN) presented updates on its Smart Window Insert™ at the 2022 LD Micro Invitational Conference. CEO Doug Croxall highlighted the product's unique features, including a lower bill of materials and reduced power consumption. Targeting US office buildings, this retrofit solution aims to cut HVAC energy costs and reduce carbon footprints. The company has entered a non-binding term sheet for debt capital to finance two new roll-to-roll lines expected to generate up to $240 million in annual revenue and $40 million in EBITDA.

Crown Electrokinetics Corp. (NASDAQ: CRKN), specializing in smart glass technology, will present at the 12th annual LD Micro Invitational on June 8th at 12:30 PM PT. CEO Doug Croxall will discuss the company's recent activities and innovations. This year’s event runs from June 7th to 9th at the Four Seasons Westlake Village, featuring over 200 companies in presentations and private meetings. Crown's innovative DynamicTint™ technology enhances glass functionality while promoting sustainability.

Crown Electrokinetics Corp. (NASDAQ: CRKN) announced a non-binding debt financing term sheet, expected to finalize in two months. This will fund production lines for DynamicTint™ film and ensure working capital through 2023. Current production is limited, but feedback from early customers will guide the development of the second-generation Smart Window Insert™. New production facilities could generate $220 - $240 million in revenue and an EBITDA of around $40 million annually. CEO Doug Croxall expressed optimism for upcoming product deliveries this summer.