Cyngn to Ring the NASDAQ Stock Market Opening Bell Today

Rhea-AI Summary

Cyngn (NASDAQ: CYN), an autonomous driving software developer, will celebrate its IPO on May 11, 2022, by ringing the NASDAQ opening bell. The event, led by Chairman and CEO Lior Tal, highlights Cyngn's transition from R&D to commercializing its Enterprise Autonomy Suite, aimed at addressing industrial automation challenges. The company asserts its commitment to innovation in Industrial 4.0. View the ceremony live at the NASDAQ Marketsite in New York or online.

Positive

• Successful IPO in October 2021, marking a significant milestone for Cyngn.
• Launch of the Enterprise Autonomy Suite, enhancing commercial viability.
• Established key strategic partnerships supporting growth.

Negative

• None.

 

MENLO PARK, Calif.--(BUSINESS WIRE)-- Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced the Company’s Chairman and CEO Lior Tal will be joined by other members of the Company to ring the opening bell of the NASDAQ Stock Market on Wednesday, May 11, 2022, at 9:30 a.m. ET in celebration of its IPO in October 2021.

Cyngn leadership will ring the opening bell of the NASDAQ Stock Market on Wednesday, May 11, 2022, in celebration of its IPO in late 2021. Source: Cyngn

The ceremony will take place at the NASDAQ Marketsite, 4 Times Square, 43rd and Broadway, in New York. The live ceremonies will begin at 9:15 a.m. ET and can be viewed at https://livestream.com/accounts/27896496/events/10316574 or https://www.nasdaq.com/marketsite/bell-ringing-ceremony. For additional information, please contact The Equity Group at (212) 371-8660.

“Cyngn’s IPO last year was a significant milestone for our Company as we moved beyond research and development and into productizing and commercializing our proprietary Enterprise Autonomy Suite, a full-stack self-driving system purpose built for industrial and commercial applications. Ringing the Nasdaq opening bell today is representative of opening a new era of innovation where autonomy is critical to Industry 4.0, shaping the future of manufacturing and any material-handling starting now,” stated Mr. Tal.

“I am honored and grateful to be joined both physically and virtually by my talented team of colleagues and those who have supported us through all the stages of Cyngn’s development over the years. Bolstered by the significant progress we have made with product launches and key strategic partnerships since the start of 2022, I am confident and excited for Cyngn’s journey ahead.”

About Cyngn

Cyngn is an autonomous vehicle technology company that is focused on addressing industrial uses for autonomous vehicles. Cyngn believes that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial industry challenges that exist today. These challenges include labor shortages, lagging technological advancements from incumbents, and high upfront investment requirements. Cyngn addresses these challenges with its Enterprise Autonomy Suite, which includes DriveMod (modular industrial vehicle autonomous driving software), Cyngn Insight (customer-facing software suite for monitoring/managing AV fleets and aggregating/analyzing data), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

To learn more, please visit https://cyngn.com/.

Find Cyngn on:

• Twitter
• LinkedIn
• YouTube
• The Advanced Autonomy Podcast

Forward-Looking Statements

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, such as statements about the Company’s growth, ability to deliver sustainable long-term value, ability to respond to the changing environment, operational focus, strategic growth plans, product launches and corresponding revenue generation, operations and financial results. Forward-looking statements reflect current views with respect to future events and financial performance and therefore cannot be guaranteed. Such statements are based on the current expectations and certain assumptions of the Company’s management, and some or all of such expectations and assumptions may not materialize or may vary significantly from actual results. Actual results may also vary materially from forward-looking statements due to risks, uncertainties and other factors, known and unknown, 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 Prospectus. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511005230/en/

Carolyne Sohn

Vice President, The Equity Group

csohn@equityny.com

(415) 568-2255

Source: Cyngn

FAQ

What is the significance of Cyngn ringing the NASDAQ opening bell on May 11, 2022?

Cyngn's ceremony on May 11, 2022, celebrates its successful IPO launched in October 2021, marking its transition to commercial operations.

What products are included in Cyngn's Enterprise Autonomy Suite?

The Enterprise Autonomy Suite includes DriveMod for autonomous vehicle software, Cyngn Insight for fleet management, and Cyngn Evolve for data analytics and AI.

How does Cyngn address challenges in the autonomous vehicle industry?

Cyngn tackles industry challenges like labor shortages and high costs through innovative technology and its Enterprise Autonomy Suite.

Where can I watch the NASDAQ opening bell ringing ceremony for Cyngn?

The ceremony can be viewed live at the NASDAQ Marketsite in New York or online via streaming links provided in their press release.