Cyngn regains Nasdaq compliance, confirms no increase in shares

Cyngn announced that it has received a notice from Nasdaq confirming that the company has regained compliance with the Nasdaq’s Capital Market’s minimum bid price requirement of $1.00 per share. The notice from Nasdaq indicates that the company 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. 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.