Cyngn receives Nasdaq delisting notice due to low stock price; shareholders approve reverse stock split

Cyngn Inc.

Nasdaq notified Cyngn that bid price closed below $0.10 for 10 consecutive days through June 20, 2024, triggering Low Priced Stock Rule.
Company plans to request hearing before Nasdaq Hearings Panel to stay delisting; trading continues under symbol CYN pending process.
Stockholders at June 25 annual meeting approved reverse stock split within range 1:5 to 1:100, to be implemented by board.
Also approved increase in authorized common shares from 200M to 400M and election of Colleen Cunningham as Class III director.
Ratified Marcum LLP as independent auditor for FY2024.

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