$Cyngn (CYN.US)$ L1 Capital Global Currency Opportunities Ma...

$Cyngn (CYN.US)$ L1 Capital Global Currency Opportunities Master Fund Ltd. disclosed in its Schedule 13G filing on December 23, 2024, that it has acquired a significant stake in Cyngn Inc. The fund, based in the Cayman Islands, currently benefits from holding 545,275 shares, representing 9.99% of Cyngn's issued common stock.
Ownership includes 513,354 shares of purchased stocks and 31,921 shares of stocks exercisable within 60 days based on pre-funding warrants, with the beneficial ownership capped at 9.99%. The fund has the sole voting and disposition rights over all reported stocks. Due to the ownership cap, additional warrants and potential stocks are not included.
Directors David Feldman and Joel Arber of L1 Capital Global Currency Opportunities Master Fund Ltd. may be considered to have beneficial ownership of these securities. However, they deny having beneficial ownership for any other purpose. The filing indicates that the acquisition is not intended to change or influence control of Cyngn.