DOVER, Del., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Liqueous LP, a premier multi-strategy fund specializing in liquidity solutions, is pleased to announce the finalization of a $100 million Equity Line of Credit (ELOC) with Crown Electrokinetics Corp (NASDAQ:CRKN) (the "Company"). This significant financing arrangement is part of Liqueous's strategic expansion, focused on delivering tech-driven financial structures to micro, small, and mid-market issuers, aimed at enhancing shareholder value.
In May 2024, Liqueous played a key role in helping CRKN fully pay off and retire all outstanding classes of convertible preferred stock, totaling over $11 million, as part of its comprehensive recapitalization strategy. The Company successfully settled its obligations with preferred stockholders, marking the completion of its restructuring efforts. This new ELOC represents the next phase of CRKN's financing structure, with a strengthened balance sheet and capital foundation designed to support growth.
"Retiring all of the Company's preferred stock in May was a pivotal moment for us, allowing us to streamline our capital structure with no remaining convertible debt or preferred stock. This has set the stage for us to focus on developing our business segments and pursuing acquisitions on more favorable terms for the Company and its shareholders," said Doug Croxall, CEO of Crown Electrokinetics. "We look forward to continuing our partnership with Liqueous as our finance partner."
This $100 million ELOC will allow Liqueous to further expand its portfolio of liquidity solutions ...
