Revere Securities acted as placement agent for $4 Million PIPE for Crown Electrokinetics Corp.

Rhea-AI Summary

Crown Electrokinetics Corp. (NASDAQ: CRKN) has successfully closed a $4 Million private placement facilitated by Revere Securities. This funding is earmarked to support the company in delivering its first-generation product and for ongoing debt capital negotiations necessary for future manufacturing phases. Doug Croxall, CEO, emphasized the significance of this capital for the company's operational expansion.

Crown specializes in smart glass technology, known for its DynamicTint™, enabling glass to switch between clear and dark swiftly, offering a sustainable alternative to conventional window treatments.

Positive

• Closing of a $4 Million private placement enhances financial liquidity.
• Funding supports production of first-generation product and future manufacturing phases.
• DynamicTint™ technology offers sustainability and unique market advantages.

Negative

• None.

NEW YORK, Oct. 28, 2022 /PRNewswire/ -- Revere Securities is pleased to announce the closing of a $4 Million private placement for Crown Electrokinetics Corp. (NASDAQ: CRKN).

"This new capital will allow Crown to deliver its first-generation product, while also providing us with the runway to continue negotiating debt capital, which the Company will require to initiate our next phase of manufacturing." said Doug Croxall, Chairman and CEO of Crown Electrokinetics.

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.

About Revere Securities

Revere Securities is a global broker-dealer firm providing strategic and financial support to institutional investors, hedge funds, and individual investors. The firm's professionals are involved in all components of the sales and trading process and include extensive compliance and operational personnel. In addition, Revere Securities LLC provides differentiated corporate access, helping institutional clients gain access to management as a component of their investment process. The firm has industry focused sales specialists who possess "buy-side" experience; therefore, providing a sound, alternate perspective, to the investment process.

Media Contact:
Jay Yu
Revere Securities LLC
(212) 688-2350
jyu@reveresecurities.com

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SOURCE Revere Securities LLC

FAQ

What was the amount raised in Crown Electrokinetics' recent private placement?

Crown Electrokinetics raised $4 Million in a recent private placement.

Who acted as the placement agent for Crown Electrokinetics' private placement?

Revere Securities acted as the placement agent for the $4 Million private placement.

What will the funds from the private placement be used for?

The funds will be used for delivering Crown's first-generation product and for negotiating necessary debt capital.

What is the technology behind Crown Electrokinetics?

Crown Electrokinetics focuses on smart glass technology, specifically their DynamicTint™, which allows glass to transition between clear and dark.

When was the private placement for Crown Electrokinetics announced?

The private placement was announced on October 28, 2022.