Summary by Moomoo AI
On May 7, 2024, Cyngn Inc., a company listed on The Nasdaq Capital Market under the trading symbol CYN, reported a significant amendment to its Amended and Restated Bylaws. The amendment, approved by the company's Board of Directors on the same day, involves a reduction in the quorum required for stockholder meetings. Previously, a majority was necessary to establish a quorum, but the new amendment lowers this requirement to one-third of the voting power of the shares issued and outstanding. This change aims to facilitate the holding of stockholder meetings. The full text of the amended bylaws has been made available as Exhibit 3.1 attached to the report.