On Wednesday, the Kronos Advanced Technologies Inc (OTCMKTS:KNOS) stock was in the middle of a mild selloff following an important announcement from the company and ended up with a decline of 5.5%. The company is based known for having worked extensively in the process of moving, sterilising and filtering air.
Yesterday, Kronos Advanced announced that the details with regards to its spinoff of the company DogeSPAC LLC were published by the Financial Industry Regulatory Authority. The company went on to announced that the recorded date for distributing the membership interests in DogeSPAC to those who hold one equity security is going to stay as June 15, 2021.
However, the distribution was done for the same yesterday. Shareholders in Kronos are going to get one membership interest unit for each unit of common share that they hold. The President of Kronos Advanced Michael Rubinov spoke about the development as well.
He stated that Kronos Advanced was happy to have finally closed the whole thing yesterday after having waited for FINRA to publish the event for months. It should be noted that Kronos Advanced is the first publicly traded company to have started accepting payments through Dogecoin.