Cyngn Inc. (CYN): Nasdaq/NYSE listing notice — Cyngn receives Nasdaq notice for bid price below $1.00; 180 days to regain compliance

Cyngn Inc.

Notification date August 24, 2023; stock closing bid below $1.00 for 30 consecutive trading days.
Cure period ends February 20, 2024; compliance requires $1.00 or higher for 10 consecutive business days.
If not cured, possible additional 180-day period if meets other listing standards and intends to reverse split.
Company to monitor bid price and evaluate options to resolve deficiency.

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

August 24, 2023, 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 o

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Source: SEC EDGAR

accession 0001213900-23-070969

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