Cyngn Regains Nasdaq Compliance

Rhea-AI Summary

Cyngn Inc. (Nasdaq: CYN) has successfully regained compliance with Nasdaq Capital Market's minimum bid price requirement of $1.00 per share. The company's common stock will continue to be listed and traded on Nasdaq.

CEO Lior Tal expressed satisfaction with meeting Nasdaq's listing requirements, emphasizing the company's commitment to strong corporate governance and shareholder value creation. Cyngn maintains its focus on developing autonomous driving technology for industrial and commercial applications while pursuing strategic initiatives in the sector.

Positive

• Regained Nasdaq listing compliance, ensuring continued trading on major exchange
• Maintained $1.00 minimum share price requirement

Negative

• Previous non-compliance with Nasdaq requirements indicates recent stock price weakness

MENLO PARK, Calif., March 13, 2025 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) (or the "Company") announced today 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.

"We are pleased to have met Nasdaq's listing requirements once again," said Lior Tal, CEO of Cyngn. "Maintaining compliance reflects our commitment to strong corporate governance and reinforces our dedication to creating long-term value for our shareholders. Cyngn remains focused on advancing its autonomous driving technology for industrial and commercial applications. The company looks forward to executing its strategic initiatives and continuing to drive innovation in the sector."

About Cyngn

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 for 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). For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025.

Where to find Cyngn:

• Website: https://cyngn.com
• X: https://x.com/cyngn
• LinkedIn: https://www.linkedin.com/company/cyngn
• YouTube: https://www.youtube.com/@cyngnhq

Investor Contact:
Donald Alvarez, CFO
investors@cyngn.com

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

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. 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 Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. 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

FAQ

What does Cyngn's (CYN) Nasdaq compliance mean for investors?

It means CYN stock will continue trading on Nasdaq, maintaining better visibility and liquidity for investors, as the stock price has met the minimum $1.00 per share requirement.

How did Cyngn (CYN) regain Nasdaq compliance in March 2025?

Cyngn regained compliance by meeting Nasdaq Capital Market's minimum bid price requirement of $1.00 per share.

What is Cyngn's (CYN) current business focus after regaining Nasdaq compliance?

Cyngn focuses on developing autonomous driving technology for industrial and commercial applications while executing strategic initiatives.

What were the Nasdaq listing requirements that Cyngn (CYN) had to meet?

The primary requirement mentioned was maintaining a minimum bid price of $1.00 per share on the Nasdaq Capital Market.