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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
