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Cyngn Inc., a developer of autonomous vehicle technology, announced on February 21, 2024, that it has received a 180-day extension from Nasdaq to regain compliance with the exchange's minimum bid price requirement. The company's stock had previously fallen below the $1.00 minimum bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The initial compliance period was set to expire on February 20, 2024, but with the extension, Cyngn now has until August 19, 2024, to meet the requirement. The company must maintain a minimum bid price of $1.00 per share for at least 10 consecutive business days to remain listed on the Nasdaq Capital Market. Failure to achieve compliance within the extended timeframe could lead to delisting, although Cyngn would have the opportunity to appeal. The announcement was made through a press release, which also highlighted Cyngn's commitment to addressing the compliance issue and its ongoing efforts to maximize shareholder value.
Cyngn Inc., a developer of autonomous vehicle technology, announced on February 21, 2024, that it has received a 180-day extension from Nasdaq to regain compliance with the exchange's minimum bid price requirement. The company's stock had previously fallen below the $1.00 minimum bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The initial compliance period was set to expire on February 20, 2024, but with the extension, Cyngn now has until August 19, 2024, to meet the requirement. The company must maintain a minimum bid price of $1.00 per share for at least 10 consecutive business days to remain listed on the Nasdaq Capital Market. Failure to achieve compliance within the extended timeframe could lead to delisting, although Cyngn would have the opportunity to appeal. The announcement was made through a press release, which also highlighted Cyngn's commitment to addressing the compliance issue and its ongoing efforts to maximize shareholder value.
自动驾驶汽车技术开发商Cyngn Inc. 于2024年2月21日宣布，它已获得纳斯达克的180天延期，以重新遵守该交易所的最低出价要求。该公司的股票此前已连续30个工作日跌破1.00美元的最低出价，违反了纳斯达克上市规则5550（a）（2）。最初的合规期定于2024年2月20日到期，但随着时间的延长，Cyngn现在必须在2024年8月19日之前满足该要求。该公司必须至少连续10个工作日将每股1.00美元的最低出价维持在纳斯达克资本市场上市。尽管Cyngn有机会提出上诉，但未能在延长的期限内实现合规可能导致除名。该公告是通过新闻稿发布的，该新闻稿还强调了Cyngn对解决合规问题的承诺以及为实现股东价值最大化所做的持续努力。
自动驾驶汽车技术开发商Cyngn Inc. 于2024年2月21日宣布，它已获得纳斯达克的180天延期，以重新遵守该交易所的最低出价要求。该公司的股票此前已连续30个工作日跌破1.00美元的最低出价，违反了纳斯达克上市规则5550（a）（2）。最初的合规期定于2024年2月20日到期，但随着时间的延长，Cyngn现在必须在2024年8月19日之前满足该要求。该公司必须至少连续10个工作日将每股1.00美元的最低出价维持在纳斯达克资本市场上市。尽管Cyngn有机会提出上诉，但未能在延长的期限内实现合规可能导致除名。该公告是通过新闻稿发布的，该新闻稿还强调了Cyngn对解决合规问题的承诺以及为实现股东价值最大化所做的持续努力。
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