Crown ElectroKinetics Corp. announced that it has entered into a Common Stock Purchase Agreement with the purchaser to issue the shares of the company?s common stock at par value $0.0001 per share for an aggregate gross proceeds of $50 million on July 20, 2023. The purchase price of the shares of common stock that the company elects to sell to the ELOC purchaser pursuant to the ELOC purchase agreement will be equal to 97% of the lower of the lowest intraday sale price of the common stock on the company?s current trading market on the applicable purchase date and lowest closing sale prices during the10 trading days immediately preceding the applicable purchase date.

There is no upper limit on the price per share that the ELOC Purchaser could be obligated to pay for the common stock under the ELOC purchase agreement.