Summary by Moomoo AI
Cyngn Inc., an emerging growth company listed on the Nasdaq Capital Market under the trading symbol CYN, has filed a Form 8-K with the SEC to report a significant corporate action. The company has executed a reverse stock split at a ratio of 1-for-100, effective July 3, 2024. This action follows the authorization by Cyngn's stockholders at the annual meeting on June 25, 2024, and the subsequent determination by the Board of Directors to implement the reverse split within the approved range. The Certificate of Amendment to the Fifth Amended and Restated Certificate of Incorporation, which formalizes the reverse stock split, has been filed with the Secretary of State of Delaware and is included as Exhibit 3.1 in the report.
