secwatch.observer — SEC 8-K summary
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Issuer:     Crown Electrokinetics Corp. (—)
CIK:        0001761696
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0001213900-23-046540
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 5.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Electrokinetics restructures debt, exchanges notes for Series F Preferred, issues 35.5M warrants
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- Exchanged $2.6M Oct notes, $205K Jan notes, $570K demand notes, 1,197 Series D shares for 5,251 Series F shares ($1K stated value).
- Issued five-year warrants to purchase 35.5M shares of common stock at $0.1478 per share, subject to stockholder approval.
- Series F Preferred converts at $0.1478/share, 10% annual dividend, 4.99%-9.99% ownership cap, and 125% liquidation preference.
- Deleveraging reduces debt and removes restrictive covenants; CFO cites fiber optics growth opportunities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1761696/000121390023046540/0001213900-23-046540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1761696/000121390023046540/ea179751-8k_crownelect.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-046540

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer