On December 31, 2023, Empery Asset Management, LP, along with its managing members Ryan M. Lane and Martin D. Hoe, filed a Schedule 13G with the Securities and Exchange Commission, disclosing their beneficial ownership in Cyngn Inc. The filing indicates that Empery Asset Management, LP holds a significant number of shares and warrants in Cyngn Inc., which upon full exercise of the warrants, would represent 9.99% of the company's issued and outstanding common stock. However, due to contractual limitations known as 'blockers', the actual beneficial ownership is less than this percentage. The blockers prevent the reporting persons from exercising warrants that would result in ownership exceeding 4.99% of the outstanding shares for common warrants, and 9.99% for pre-funded warrants. The filing was made pursuant...Show More

On December 31, 2023, Empery Asset Management, LP, along with its managing members Ryan M. Lane and Martin D. Hoe, filed a Schedule 13G with the Securities and Exchange Commission, disclosing their beneficial ownership in Cyngn Inc. The filing indicates that Empery Asset Management, LP holds a significant number of shares and warrants in Cyngn Inc., which upon full exercise of the warrants, would represent 9.99% of the company's issued and outstanding common stock. However, due to contractual limitations known as 'blockers', the actual beneficial ownership is less than this percentage. The blockers prevent the reporting persons from exercising warrants that would result in ownership exceeding 4.99% of the outstanding shares for common warrants, and 9.99% for pre-funded warrants. The filing was made pursuant to Rule 13d-1(b) indicating that Empery Asset Management is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. The filing asserts that the shares and warrants were not acquired for the purpose of changing or influencing the control of Cyngn Inc. and were not held in connection with any transaction having such purpose or effect.