Crown Electrokinetics Announces 1-For-60 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Crown Electrokinetics Corp. (NASDAQ:CRKN) has announced a 1-for-60 reverse stock split on its common stock, effective from August 14, 2023. The split 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.
August 14, 2023 | 4:38 pm
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Crown Electrokinetics Corp. is implementing a 1-for-60 reverse stock split. This action will not change the percentage interest of any stockholder in the company's outstanding common stock, except for adjustments due to fractional shares.
A reverse stock split reduces the number of shares in circulation, which can increase the per-share price and help a company meet the minimum price requirements for listing on an exchange. However, it does not change the overall value of the company or the percentage ownership of existing shareholders, except for adjustments due to fractional shares. Therefore, the impact on the stock price is neutral in the short term.
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