CRKN - Why Crown Electrokinetics Shares Are Sinking | Benzinga
Crown Electrokinetics Corp. (NASDAQ:CRKN) shares are trading lower Friday after the company announced it will implement a 1-for-150 reverse stock split.
The Details:
The company said it expects to implement a 1-for-150 reverse stock split on its common stock with trading to begin on a split-adjusted basis at the market open on Tuesday, June 25.
On June 12, Crown Electrokinetics announced that its request for continued listing on the Nasdaq was approved, contingent upon meeting all applicable criteria by July 23.
In May, Crown Electrokinetics secured a long haul dark fiber construction project spanning approximately 250 miles from Las Cruces, New Mexico to El Paso, Texas and representing a $12 million gross revenue opportunity.
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