Crown Electrokinetics Issues Letter To Shareholders; On June 25, Effected 1:150 Reverse Split For Nasdaq Compliance; Expects Q2 Revenue $3.5M-$4M And Q3 Revenue $7M-$8M
Portfolio Pulse from Benzinga Newsdesk
Crown Electrokinetics (CRKN) issued a letter to shareholders detailing a 1:150 reverse split to maintain Nasdaq compliance, and provided revenue guidance for Q2 and Q3. The company highlighted growth in its Fiber Optics division and progress in its Electrokinetic Film division.
June 26, 2024 | 8:44 pm
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Crown Electrokinetics (CRKN) has effected a 1:150 reverse split to maintain Nasdaq compliance and provided revenue guidance for Q2 ($3.5M-$4M) and Q3 ($7M-$8M). The company is experiencing strong growth in its Fiber Optics division and making progress in its Electrokinetic Film division.
The reverse split is a significant action to maintain Nasdaq compliance, which is crucial for investor confidence. The revenue guidance indicates strong growth, particularly in the Fiber Optics division, which is likely to positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100