DevvStream
GreenPower Motor

Plug Into More Green Stock News

Tap into the pulse of emerging green sectors every morning. Top daily headlines from clean energy, cleantech, cannabis, and sustainable transport stocks:

Please review our Disclaimer and Privacy Policy before subscribing. One-click unsubscribe at any time.

Cyngn Declares Pro Rata Dividend of Common Stock

MENLO PARK, Calif., Oct. 2, 2023 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, today announced that its board of directors has approved a pro rata 10% dividend of its common stock. The dividend will be paid on October 30, 2023 (the "Distribution Date") to all holders of record of the Company's common stock as of the close of business on October 23, 2023 (the "Record Date"). Stockholders will receive one share of Cyngn common stock for every ten shares of Cyngn common stock they hold on the Record Date.

Fractional shares of Cyngn common stock will not be distributed to Cyngn stockholders.  Instead, the fractional shares of Cyngn common stock will be rounded up to receive one whole share of Cyngn common stock.

Lior Tal, Chairman and CEO of the Company stated, "The Board is very pleased with the progress the Company made in since its IPO in 2021, especially with the recent economic and market challenges. We are proud of our Company, our staff, and our customers and partners as we all worked to achieve and even exceed the goals we outlined at the time went public. By declaring this first-time stock dividend it's our way of rewarding and thanking our shareholders for their continued support."

The Board will continue to consider future stock dividends going forward.  Any future dividend would be based on all outstanding shares including those issued as a result of this stock dividend, although that of any dividends will be based on the Company's financial condition and other related factors at that time.

About Cyngn
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Find Cyngn on:

Investor/Media Contact:
Bill Ong, This email address is being protected from spambots. You need JavaScript enabled to view it.
650-204-1551

Plug Into More Green Stock News

Tap into the pulse of emerging green sectors every morning. Top daily headlines from clean energy, cleantech, cannabis, and sustainable transport stocks:

Please review our Disclaimer and Privacy Policy before subscribing. One-click unsubscribe at any time.
DevvStream

DevvStream provides upfront capital for sustainability projects in exchange for carbon credit rights. Through these rights, the company generates and manages carbon credits by utilizing the most technologically advanced...

CLICK TO LEARN MORE
GreenPower Motor

GreenPower Motor designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis...

CLICK TO LEARN MORE

COPYRIGHT ©2022 GREEN STOCK NEWS