Cyngn Regains Nasdaq Compliance and Confirms No Increase in Authorized Shares
Cyngn Inc. (Nasdaq: CYN) has successfully regained compliance with Nasdaq's Capital Market's minimum bid price requirement of $1.00 per share. This ensures the company's continued listing and trading on Nasdaq. Cyngn has also decided not to proceed with the previously approved increase in authorized shares, demonstrating a commitment to maintaining a disciplined approach to capital structure and minimizing shareholder dilution.
CEO Lior Tal expressed satisfaction with regaining Nasdaq compliance and emphasized the company's dedication to maintaining shareholder trust and confidence. Cyngn remains focused on developing autonomous driving technology for industrial and commercial applications, aiming to deliver value to its shareholders through continued progress in this field.
Cyngn Inc. (Nasdaq: CYN) ha riacquistato con successo la conformità con il requisito di prezzo minimo per l'offerta del Capital Market di Nasdaq, fissato a $1,00 per azione. Questo garantisce la continuazione della quotazione e del trading dell'azienda su Nasdaq. Cyngn ha anche deciso di non procedere con l'aumento precedentemente approvato delle azioni autorizzate, dimostrando un impegno a mantenere un approccio disciplinato alla struttura del capitale e a minimizzare la diluizione degli azionisti.
Il CEO Lior Tal ha espresso soddisfazione per il ritorno alla conformità con Nasdaq e ha sottolineato la dedizione dell'azienda a mantenere la fiducia e la confidenza degli azionisti. Cyngn rimane focalizzata sullo sviluppo della tecnologia di guida autonoma per applicazioni industriali e commerciali, puntando a offrire valore ai propri azionisti attraverso un progresso continuo in questo campo.
Cyngn Inc. (Nasdaq: CYN) ha recuperado con éxito el cumplimiento con el requisito de precio mínimo de la oferta del Mercado de Capitales de Nasdaq de $1.00 por acción. Esto asegura la continua cotización y negociación de la compañía en Nasdaq. Cyngn también ha decidido no proceder con el aumento previamente aprobado en las acciones autorizadas, demostrando un compromiso por mantener un enfoque disciplinado en la estructura de capital y minimizar la dilución de los accionistas.
El CEO Lior Tal expresó satisfacción por recuperar el cumplimiento de Nasdaq y enfatizó la dedicación de la compañía a mantener la confianza y seguridad de los accionistas. Cyngn sigue enfocada en desarrollar tecnología de conducción autónoma para aplicaciones industriales y comerciales, con el objetivo de ofrecer valor a sus accionistas a través del progreso continuo en este campo.
Cyngn Inc. (Nasdaq: CYN)는 Nasdaq 자본 시장의 주당 최소 매매가 요구 사항인 $1.00에 대한 준수를 성공적으로 회복했습니다. 이는 회사의 Nasdaq 상장 및 거래가 계속됨을 보장합니다. Cyngn은 또한 이전에 승인된 승인된 주식의 증가를 진행하지 않기로 결정하여 자본 구조를 유지하고 주주 희석을 최소화하기 위한 규율 있는 접근 방식을 유지하겠다는 의지를 보여주었습니다.
CEO 리오르 탈은 Nasdaq 준수를 회복한 것에 대한 만족감을 표현하며 회사가 주주의 신뢰와 확신을 유지하려는 헌신을 강조했습니다. Cyngn은 산업 및 상업 응용 프로그램을 위한 자율주행 기술 개발에 집중하고 있으며, 이 분야에서의 지속적인 발전을 통해 주주에게 가치를 제공하는 것을 목표로 하고 있습니다.
Cyngn Inc. (Nasdaq: CYN) a réussi à se conformer à l'exigence de prix minimum d'offre du Nasdaq Capital Market, fixée à 1,00 $ par action. Cela garantit la continuité de l'inscription et de la négociation de l'entreprise sur Nasdaq. Cyngn a également décidé de ne pas procéder à l'augmentation des actions autorisées qui avait été précédemment approuvée, démontrant ainsi son engagement à maintenir une approche disciplinée de sa structure de capital et à minimiser la dilution des actionnaires.
Le PDG Lior Tal a exprimé sa satisfaction quant au retour en conformité avec le Nasdaq et a souligné le dévouement de l'entreprise à maintenir la confiance et l'assurance des actionnaires. Cyngn reste concentrée sur le développement de la technologie de conduite autonome pour des applications industrielles et commerciales, visant à offrir de la valeur à ses actionnaires grâce à des progrès continus dans ce domaine.
Cyngn Inc. (Nasdaq: CYN) hat erfolgreich die Anforderungen für den Mindestpreis des Nasdaq Capital Markets von $1,00 pro Aktie erfüllt. Dies gewährleistet die Fortsetzung der Listung und des Handels des Unternehmens an der Nasdaq. Cyngn hat außerdem beschlossen, nicht mit der zuvor genehmigten Erhöhung der genehmigten Aktien fortzufahren, was ein Engagement für einen disziplinierten Ansatz zur Kapitalstruktur und zur Minimierung der Verwässerung der Aktionäre demonstriert.
CEO Lior Tal drückte seine Zufriedenheit mit der Wiederherstellung der Nasdaq-Konformität aus und betonte das Engagement des Unternehmens, das Vertrauen und die Zuversicht der Aktionäre zu erhalten. Cyngn bleibt darauf fokussiert, autonomes Fahren für industrielle und kommerzielle Anwendungen zu entwickeln, mit dem Ziel, seinen Aktionären durch fortgesetzte Fortschritte in diesem Bereich Wert zu bieten.
- Regained compliance with Nasdaq's minimum bid price requirement
- Continued listing and trading on Nasdaq secured
- Decision not to increase authorized shares, potentially reducing dilution risk
- None.
In addition to achieving compliance with NASDAQ's listing standards, Cyngn confirms that despite recently receiving approval from shareholders to increase authorized shares outstanding, the Company has chosen not to proceed with this authorization at this time. This decision reflects Cyngn's strategy to maintain a disciplined approach to capital structure and shareholder dilution.
"We are pleased to have regained compliance with Nasdaq's listing standards," said Lior Tal, CEO of Cyngn. "We are committed to maintaining the trust and confidence of our shareholders so that we can continue to focus on our strategic objectives and delivering value to our shareholders.
Cyngn remains dedicated to advancing its mission of developing cutting-edge autonomous driving technology for industrial and commercial applications. The company looks forward to continued progress and delivering value to its shareholders.
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand from eCommerce.
Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.
Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).
- Website: https://cyngn.com
- Twitter: http://twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Don Alvarez
investors@cyngn.com
Media Contact
Luke Renner
media@cyngn.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the SEC, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE Cyngn
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