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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): July 3, 2024
CYNGN INC.
(Exact name of registrant
as specified in charter)
Delaware |
|
001-40932 |
|
46-2007094 |
(State or other jurisdiction |
|
(Commission File Number) |
|
(IRS Employer |
of incorporation) |
|
|
|
Identification No.) |
1015 O’Brien
Dr.
Menlo
Park, CA 94025
(Address of principal
executive offices) (Zip Code)
(650) 924-5905
(Registrant’s telephone
number, including area code)
Not Applicable
(Former name or former
address, if changed since last report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered
pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock |
|
CYN |
|
The Nasdaq Stock
Market LLC (The Nasdaq Capital Market) |
Indicate by check mark
whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth
company ☒
If an emerging growth
company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.03 Material Modification of Rights to Security Holders.
To the extent required by Item 3.03 of Form 8-K,
the information contained in Item 5.03 of this report is incorporated herein by reference.
Item 5.03 Amendment to Articles of Incorporation or Bylaws; Change
in Fiscal Year.
As previously disclosed
on Form 8-K on June 25, 2024, Cyngn Inc. (the “Company”) held its annual stockholder meeting on June 25, 2024, at which stockholders
voted to authorize the Company’s Board of Directors to effect a reverse stock split of the outstanding shares of common stock within
one (1) year of June 25, 2024, at a specific ratio within a range of one-for-five (1-for-5) to a maximum of a one-for-one hundred (1-for-100).
On June 25, 2024, the
Company’s Board of Directors determined to effect the reverse stock split of the common stock at a 1-for-100 ratio (the “Reverse
Split”) and approved the filing of a Certificate of Amendment (the “Certificate of Amendment”) to the Fifth Amended
and Restated Certificate of Incorporation of the Company to effect the Reverse Split.
Effective July 3, 2024,
the Certificate of Amendment to effect the Reverse Split, was filed with the Secretary of State of Delaware.
A copy of the Certificate
of Amendment is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial
Statement and Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 9, 2024
|
CYNGN INC. |
|
|
|
By: |
/s/ Donald Alvarez |
|
|
Donald Alvarez |
|
|
Chief Financial Officer |
2
Exhibit 3.1
![](https://www.sec.gov/Archives/edgar/data/1874097/000121390024060172/ex3-1_001.jpg)
CERTIFICATE OF AMENDMENT TO THE
FIFTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
OF
CYNGN INC.,
a Delaware Corporation
Cyngn Inc. (the “Corporation”),
a corporation organized and existing under the General Corporation Law of the State of Delaware, hereby certifies as follows:
FIRST: That the
undersigned is the duly elected and acting Chief Executive Officer of the Corporation.
SECOND: That,
pursuant to Section 242 of the Delaware General Corporation Law (the “DGCL”), the first paragraph of Article
Fourth of the Fifth Amended and Restated Certificate of Incorporation of the Corporation is hereby amended to read in its entirety as
follows:
“FOURTH: The
total number of shares of all classes of capital stock that the Corporation is authorized to issue is 210,000,000 shares, consisting of
(i) 200,000,000 shares of common stock, par value $0.00001 per share (the “Common Stock”), and (ii) 10,000,000 shares
of preferred stock, par value $0.00001 per share (the “Preferred Stock”).”
Upon the filing and effectiveness
(the “Effective Time”) pursuant to the General Corporation Law of the State of Delaware of this Certificate of Amendment
to the Fifth Amended and Restated Certificate of Incorporation of the Corporation, each one hundred (100) shares of Common Stock either
issued and outstanding or held by the Corporation in treasury stock immediately prior to the Effective Time shall, automatically and without
any action on the part of the respective holders thereof, be combined and converted into one (1) share of Common Stock (the “Reverse
Stock Split”).
No fractional shares shall
be issued in connection with the Reverse Stock Split. Instead, stockholders who would be entitled to receive fractional shares of Common
Stock because they hold a number of shares not evenly divisible by the Reverse Stock Split ratio will be issued an additional fraction
of a share of Common Stock to round up to the next whole post-Reverse Stock Split share of Common Stock. No stockholders will receive
cash in lieu of fractional shares.
THIRD: That the
foregoing Certificate of Amendment of the Fifth Amended and Restated Certificate of Incorporation of the Corporation has been duly adopted
and approved by the Board of Directors and stockholders of the Corporation in accordance with the applicable provisions of Sections 228
and 242 of the Delaware General Corporation Law.
FOURTH: That this amendment
will become effective at 5:00 pm Eastern Standard Time on July 3, 2024.
IN WITNESS WHEREOF, the undersigned
hereby further declares and certifies under penalty of perjury that the facts set forth in the foregoing certificate are true and correct
to the knowledge of the undersigned, and that this certificate is the act and deed of the undersigned.
Executed on this 1st day of July, 2024.
|
By: |
/s/ Lior Tal |
|
|
Lior Tal |
|
|
Chief Executive Officer |
State of Delaware |
|
Secretary of State |
|
Division of Corporations |
|
Delivered 01:43 PM 07/01/2024 |
|
FILED 01:43 PM 07/01/2024 |
|
SR 20243032931 - File Number 5278712 |
|
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