Cyngn CEO Seeks Shareholder Support for Reverse Stock Split to Regain Nasdaq Compliance

MT Newswires Live06-01

Cyngn (CYN) Chief Executive Lior Tal on Friday issued a letter to shareholders asking their support for a planned reverse stock split to regain compliance with Nasdaq's $1 minimum bid price requirement before the late August deadline.

The company will hold its annual shareholder meeting on June 25, according to the letter.

Tal said proxy materials that have been distributed include a proposal to amend the company's articles of incorporation and raise the authorized common shares to 400 million from 200 million if the company is able to regain compliance organically. If a reverse split is executed, this increase would not be needed, Tal said.

Shares of Cyngn fell more than 13% in recent trading activity.

Price: 0.09, Change: -0.01, Percent Change: -13.31

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2440945747?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-01 02:05","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2440945747","market":"hk","top_or_hot":-1,"title":"Cyngn CEO Seeks Shareholder Support for Reverse Stock Split to Regain Nasdaq Compliance","media":"MT Newswires Live","content":"<html><body><p> Cyngn (CYN) Chief Executive Lior Tal on Friday issued a letter to shareholders asking their support for a planned reverse stock split to regain compliance with Nasdaq's $1 minimum bid price requirement before the late August deadline.</p><p>The company will hold its annual shareholder meeting on June 25, according to the letter.</p><p>Tal said proxy materials that have been distributed include a proposal to amend the company's articles of incorporation and raise the authorized common shares to 400 million from 200 million if the company is able to regain compliance organically. If a reverse split is executed, this increase would not be needed, Tal said.</p><p>Shares of Cyngn fell more than 13% in recent trading activity.</p><p>Price: 0.09, Change: -0.01, Percent Change: -13.31</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cyngn CEO Seeks Shareholder Support for Reverse Stock Split to Regain Nasdaq Compliance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCyngn CEO Seeks Shareholder Support for Reverse Stock Split to Regain Nasdaq Compliance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-01 02:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cyngn (CYN) Chief Executive Lior Tal on Friday issued a letter to shareholders asking their support for a planned reverse stock split to regain compliance with Nasdaq's $1 minimum bid price ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2440945747","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2440945747","pubTimestamp":1717178742,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Cyngn  Chief Executive Lior Tal on Friday issued a letter to shareholders asking their support for a planned reverse stock split to regain compliance with Nasdaq's $1 minimum bid price requirement before the late August deadline.The company will hold its annual shareholder meeting on June 25, according to the letter.Tal said proxy materials that have been distributed include a proposal to amend the company's articles of incorporation and raise the authorized common shares to 400 million from 200 million if the company is able to regain compliance organically. If a reverse split is executed, this increase would not be needed, Tal said.Shares of Cyngn fell more than 13% in recent trading activity.Price: 0.09, Change: -0.01, Percent Change: -13.31","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4112":"金融交易所和数据","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","QQQ":"纳指100ETF","NDAQ":"纳斯达克OMX交易所",".IXIC":"NASDAQ Composite","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","QLD":"纳指两倍做多ETF","BK4585":"ETF&股票定投概念","CYN":"Cyngn Inc","SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF","QID":"纳指两倍做空ETF","TQQQ":"纳指三倍做多ETF","BK4023":"应用软件","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD"},"translate_title":"Cyngn首席执行官寻求股东支持反向股票分割以重新获得纳斯达克合规性","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CYN":1,"NQmain":1,".IXIC":1,"NDAQ":1,"TQQQ":0.6,"SQQQ":0.6,"QQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"MNQmain":0.6},"content_text":"Cyngn (CYN) Chief Executive Lior Tal on Friday issued a letter to shareholders asking their support for a planned reverse stock split to regain compliance with Nasdaq's $1 minimum bid price requirement before the late August deadline.The company will hold its annual shareholder meeting on June 25, according to the letter.Tal said proxy materials that have been distributed include a proposal to amend the company's articles of incorporation and raise the authorized common shares to 400 million from 200 million if the company is able to regain compliance organically. If a reverse split is executed, this increase would not be needed, Tal said.Shares of Cyngn fell more than 13% in recent trading activity.Price: 0.09, Change: -0.01, Percent Change: -13.31","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2440945747"}