BRIEF-Cyngn Implementing Cost Reduction Plan To Reduce Its Average Monthly Cash Burn To $1Mln Per Month For 90 Days

Reuters

2024-11-13

BRIEF-Cyngn Implementing Cost Reduction Plan To Reduce Its Average Monthly Cash Burn To $1Mln Per Month For 90 Days

Nov 12 (Reuters) - CYNGN Inc CYN.O:

CYNGN INC -IMPLEMENTING COST REDUCTION PLAN TO REDUCE ITS AVERAGE MONTHLY CASH BURN TO $1MLN PER MONTH FOR 90 DAYS
CYNGN- INCLUDE REDUCING STAFF FROM ABOUT 80 PEOPLE TO ABOUT 60 PEOPLE, TEMPORARILY SUSPENDING CERTAIN NON-ESSENTIAL OPERATIONS
CYNGN INC -ENTERED INTO NON-BINDING ENGAGEMENT LETTER WITH AEGIS CAPITAL TO EXPLORE RAISING ADDITIONAL FUNDS
CYNGN INC -ENTERED INTO SECURITIES PURCHASE AGREEMENT, CO SOLD IN PRIVATE PLACEMENT OF $4.3 MILLION NOTES

Source text: [ID:n0001213900-24-096917]

Further company coverage: CYN.O

((Reuters.Briefs@thomsonreuters.com;))

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</span>CYNGN Inc <span>CYN.O</span>:</p><ul><li><p>CYNGN INC -IMPLEMENTING COST REDUCTION PLAN TO REDUCE ITS AVERAGE MONTHLY CASH BURN TO $1MLN PER MONTH FOR 90 DAYS</p></li><li><p>CYNGN- INCLUDE REDUCING STAFF FROM ABOUT 80 PEOPLE TO ABOUT 60 PEOPLE, TEMPORARILY SUSPENDING CERTAIN NON-ESSENTIAL OPERATIONS</p></li><li><p>CYNGN INC -ENTERED INTO NON-BINDING ENGAGEMENT LETTER WITH AEGIS CAPITAL TO EXPLORE RAISING ADDITIONAL FUNDS</p></li><li><p>CYNGN INC -ENTERED INTO SECURITIES PURCHASE AGREEMENT, CO SOLD IN PRIVATE PLACEMENT OF $4.3 MILLION NOTES</p></li></ul><p>Source text: [ID:n0001213900-24-096917]</p><p>Further company coverage: <span>CYN.O</span></p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"應用軟件","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241112:nFWN3MJ1NQ:1","article_id":"2483067264","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483067264","pubTimestamp":1731454267,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BRIEF-Cyngn Implementing Cost Reduction Plan To Reduce Its Average Monthly Cash Burn To $1Mln Per Month For 90 DaysNov 12  - 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