Cyngn Regains Nasdaq Compliance and not Increasing Authorized Shares
DENVER, Colo., Jul 22, 2024 (247marketnews.com)- Cyngn Inc. (Nasdaq:CYN) stated that it received confirmation from Nasdaq that it regained compliance with the Nasdaq’s Capital Market’s minimum $1.00 per share bid price requirement, indicating that Cyngn is in compliance with the Nasdaq Capital Market’s listing requirements and the Company’s common stock will continue to be listed and traded on Nasdaq.
Cyngn further confirmed that, despite recently receiving approval from shareholders to increase authorized shares outstanding, it is not advancing that authorization at this time.
Lior Tal, CEO of Cyngn, commented, “We are pleased to have regained compliance with Nasdaq’s listing standards.
“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.”
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