Back to Press Releases

Cyngn Summarizes Key Dates for Stock Dividend Distribution

Deadline for Cyngn stockholders to receive stock dividend benefit is October 19, 2023.

Cyngn |

MENLO PARK, Calif. October 18, 2023 –  Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, reminds investors that Thursday, October 19, 2023 will be the last business day for new and existing Cyngn stockholders to purchase and own Cyngn common stock in order to receive the benefit of our announced stock dividend.  Cyngn’s stock transfer agent, Continental Stock Transfer & Trust will identify all Cyngn stockholders on October 23, 2023 as the record date with the stock dividend to be distributed on October 30, 2023 as the distribution date. 

Recall, the board of directors announced a pro rata 10% dividend of its common stock on October 2, 2023 as referenced in the press release here. 

Key Dates for Cyngn Stockholders:

October 19, 2023: Final Date for Shareholders to Receive Stock Dividend

October 20, 2023: Ex-Dividend Date1

October 23, 2023: Record Date2

October 30, 2023: Distribution Date3

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 be rounded up to receive one whole share of Cyngn common stock.

Cyngn stockholders with a long position, defined as owning the common stock, as of the record date will receive the stock dividend.  Stockholders with a short position, defined as borrowing the common stock, will not qualify for the stock dividend. 

  1. Ex-Dividend Date: is the day where if the investor purchases Cyngn common stock before Oct. 20th, they will receive the stock dividend.  Shares purchased on Oct. 20th or later will not receive the dividend benefit.
  2. Record Date: is the day on which Cyngn verifies its records to identify stockholders of Cyngn.
  3. Distribution Date: is the day the stock dividend is paid out to Cyngn stockholders.
     

About Cyngn

Cyngn builds and deploys Autonomous DriveMod Tuggers for industrial organizations. The Company addresses significant challenges facing industrial operations today, including labor shortages and costly safety incidents.

The Autonomous DriveMod Tugger automates the repetitive material handling routes that keep manufacturing and warehouse floors running, without high upfront costs or infrastructure installation, and targets a typical payback period of less than two years.

Through EasyLaunch™, the Company's deployment program, customers can put one tugger on a single route for one monthly payment, with no capital expenditure and no long-term commitment.

Investor Contact

Natalie Russell, CFO

Media Contact

Luke Renner, Head of Marketing

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Press Release Disclosure

This blog post is provided for informational purposes only and is being cross-posted from the investor relations site as a courtesy. In the event of a discrepancy between what you see here and what you will find the investor relations site, the latter version shall control. You may find that version here: https://investors.cyngn.com/press-releases.

Similar posts