secwatch / observer
8-K filed May 18, 2023, 7:59 PM ET CIK 0001761696
debt confidence high sentiment negative materiality 0.90

Crown Electrokinetics Corp.: Nasdaq/NYSE listing notice — Crown Electrokinetics restructures $2.9M notes, issues stock; Nasdaq listing extended to Aug 28

Crown Electrokinetics Corp.

item 1.01item 3.01item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Crown Electrokinetics Corp. received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2)).

Exchange
nasdaq
Notice
extension granted
Deficiency
minimum bid price
Rules
5550(a)(2)
Exact text from the filing
May 15, 2023, the Company received a letter (the “Letter”) from Nasdaq notifying the Company that the Panel had granted the Company’s request to continue its listing on Nasdaq until August 28, 2023, subject to certain conditions. The Company intends to comply with the conditions set forth by the Panel, as stated in the Letter. There can be no assurance that the Panel will afford the Company more time to complete the compliance plan it articulated in the hearing, or that the Company will be able to remain in compliance with the applicable Nasdaq listing requirements on an ongoing basis.
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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Crown Electrokinetics Corp. received a nasdaq extension granted notice regarding stockholders equity (rules 5550(b)).

Exchange
nasdaq
Notice
extension granted
Deficiency
stockholders equity
Rules
5550(b)
Exact text from the filing
May 15, 2023, the Company received a letter (the “Letter”) from Nasdaq notifying the Company that the Panel had granted the Company’s request to continue its listing on Nasdaq until August 28, 2023, subject to certain conditions. The Company intends to comply with the conditions set forth by the Panel, as stated in the Letter. There can be no assurance that the Panel will afford the Company more time to complete the compliance plan it articulated in the hearing, or that the Company will be able to remain in compliance with the applicable Nasdaq listing requirements on an ongoing basis.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Electrokinetics Corp. amended Inducement Agreements with certain of the October Investors valued at aggregate principal amount equal to $1,500,000 (effective 2023-05-12).

Action
amendment
Agreement
credit facility
Counterparty
certain of the October Investors
Value
aggregate principal amount equal to $1,500,000
Effective
2023-05-12
Exact text from the filing
On May 12, 2023, the Company entered into letter agreements (the “Inducement Agreements”) with certain of the October Investors, pursuant to which such October Investors agreed to reduce the conversion price of October Notes in an aggregate principal amount equal to $1,500,000, to $0.1547 per share
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Electrokinetics Corp. amended Inducement Agreements with the remaining October Investors with the remaining October Investors valued at aggregate principal amount equal to $1,392,657 (effective 2023-05-17).

Action
amendment
Agreement
credit facility
Counterparty
the remaining October Investors
Value
aggregate principal amount equal to $1,392,657
Effective
2023-05-17
Exact text from the filing
On May 17, 2023, the Company entered into Inducement Agreements with the remaining October Investors, pursuant to which such October Investors agreed to reduce the conversion price of October Notes in an aggregate principal amount equal to $1,392,657, to $0.1822 per share
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Electrokinetics Corp. entered into Demand Notes with certain investors (the “Holders”) valued at aggregate principal amount equal to $429,877 (effective 2023-05-17).

Action
entry
Agreement
credit facility
Counterparty
certain investors (the “Holders”)
Value
aggregate principal amount equal to $429,877
Effective
2023-05-17
Exact text from the filing
Between May 17, 2023 and May 18, 2023, the Company issued secured demand promissory notes (the "Demand Notes") to certain investors (the “Holders”) in an aggregate principal amount equal to $429,877.
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Electrokinetics Corp. amended Third Amendment to the Convertible Promissory Note with the lender valued at principal amount equal to $2,000,000 (effective 2023-05-15).

Action
amendment
Agreement
credit facility
Counterparty
the lender
Value
principal amount equal to $2,000,000
Effective
2023-05-15
Exact text from the filing
On May 15, 2023, the Company entered into that certain Third Amendment to the Convertible Promissory Note (the “LOC Note Amendment”) with the lender, pursuant to which the lender agreed to extend the maturity date of the LOC Note until June 7, 2023
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Electrokinetics Corp. amended a credit facility with the lead lender and collateral agent for the January Notes (effective 2023-05-15).

Action
amendment
Agreement
credit facility
Counterparty
the lead lender and collateral agent for the January Notes
Effective
2023-05-15
Exact text from the filing
On May 15, 2023, the lead lender and collateral agent for the January Notes agreed to grant the Company an extension of the maturity date thereof until May 23, 2023
View on SEC.gov

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Source: SEC EDGAR
accession 0001213900-23-041189
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