Crown Provides Update on Nasdaq Delisting
Rhea-AI Summary
Crown Electrokinetics (OTC: CRKN) announced that the Nasdaq Hearings Panel has rejected their request to reconsider its March 3, 2025 decision to delist the company's common stock from The Nasdaq Stock Market. In response, Crown filed an appeal on March 18, 2025, seeking further review of the delisting decision.
The company has transitioned to trading on the OTC market and is working with market makers and advisors to maintain efficient trading and liquidity for shareholders. CEO Doug Croxall stated that while the outcome was not preferred, the company continues to focus on executing its business strategy and delivering long-term value for shareholders.
Crown aims to eventually return to a national exchange when appropriate while maintaining its focus on growth strategy and operational efficiency in the infrastructure solutions sector.
Positive
- Maintained trading continuity through transition to OTC markets
- Company continues normal operations despite delisting
Negative
- Delisting from Nasdaq, potentially reducing stock visibility and institutional investor access
- Appeal rejection by Nasdaq Hearings Panel indicates serious compliance issues
- Downgrade to OTC markets may result in reduced trading liquidity
News Market Reaction
On the day this news was published, CRKN declined 1.23%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, March 19, 2025 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (OTC: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that the Nasdaq Hearings Panel has declined Crown’s request to reconsider its March 3, 2025, decision to delist the Company’s common stock from The Nasdaq Stock Market. Following this determination, Crown immediately prepared and filed an appeal on March 18, 2025, requesting further review of the delisting decision. While this appeal does not guarantee reinstatement, it represents the next step in the process with Nasdaq.
“While we would have preferred a different outcome from the Nasdaq Hearings Panel, we remain focused on executing our business strategy and delivering long-term value for our shareholders. Our operations continue as normal, and we are making solid progress on our key initiatives. Crown is actively trading on the OTC market, and we appreciate the continued support from our investors as we move forward. We will provide further updates as appropriate,” said Doug Croxall, CEO and Chairman, Crown.
Crown remains committed to ensuring efficient trading and liquidity for its shareholders following the transition to the OTC market. The Company continues to work with its market makers and advisors to facilitate a smooth trading experience for investors.
Looking ahead, Crown continues to evaluate all available options regarding its listing status and intends to pursue a return to a national exchange when appropriate. The Company remains focused on executing its growth strategy, driving operational efficiency, and capitalizing on the opportunities ahead in critical infrastructure solutions.
About Crown
Crown is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Operating across multiple businesses – Smart Windows, and Construction – Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit www.crownek.com.
Forward-Looking Statements
Certain statements in this news release may be "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown’s future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” . Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
For more information, please contact:
Investor Relations
ir@crownek.com
Public Relations
pr@crownek.com
FAQ
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