Crown Electrokinetics nasdaq Crkn Stock Surges As Annual Shareholder Meeting Details Unfold

Crown ElectroKinetics (NASDAQ: CRKN) Stock Surges as Annual Shareholder Meeting Details Unfold

Crown ElectroKinetics (NASDAQ: CRKN) stock jumped in pre-market trading Thursday following the revelation of details regarding its upcoming annual shareholder meeting.

Crown Electrokinetics (CRKN) has scheduled its annual shareholder meeting for June 14, 2024, at 10:00 a.m. Eastern Time. This meeting will feature several pivotal matters slated for voting and deliberation.

Here’s a concise breakdown of the agenda items:

  1. Election of Board Members: Shareholders will vote on the election of five individuals to serve on the company’s board of directors.
  2. Ratification of Independent Auditor: Marcum LLP is proposed to be ratified as the independent registered public accounting firm for Crown ElectroKinetics.
  3. Approval of Reverse Stock Split: Shareholders will decide on approving a reverse stock split, with a potential ratio as high as 1-for-150 shares, aimed at strategic restructuring.
  4. Approval of 2024 Employee Incentive Plan: The company seeks approval for its 2024 Employee Incentive Plan, outlining employees’ incentives aligned with company objectives.
  5. Authorization for Share Issuance: Shareholders will consider authorizing the company to issue shares to accredited investors, potentially facilitating capital-raising initiatives.
  6. Other Matters: The meeting may cover additional relevant matters and allow for adjournment if necessary.

This announcement closely follows Crown Electrokinetics’ recent revelation of securing a new long-haul dark fiber construction project spanning approximately 250 miles from Las Cruces, New Mexico, to El Paso, Texas. Set to commence in mid-June, the project entails the construction and rehabilitation of existing duct banks along the route. Crown will oversee the survey, construction, fiber placement, and splicing, signifying a significant expansion of its infrastructure capabilities.

Crown ElectroKinetics (NASDAQ: CRKN) Stock Price Action

As of 08:21 a.m. (Eastern Time) Thursday, CRKN stock traded at $0.1371, marking a 5.86% increase compared to the previous trading session.