Cyngn Inc. (CYN): Nasdaq/NYSE listing notice — Cyngn receives Nasdaq deficiency notice for bid price below $1.00

Cyngn Inc.

Received Nasdaq notice on Dec 15, 2022; closing bid price below $1.00 for 30 consecutive trading days.
Has 180 calendar days, until June 13, 2023, to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not compliant by June 13, may be eligible for additional 180 days if meeting other initial listing standards.
Company will monitor bid price and consider options, including possible reverse stock split.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Cyngn Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

December 15, 2022, Cyngn Inc. (the “Company”) received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer meets the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”). The notification has no immediate effect

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Cyngn Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-080536

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