Cyngn Inc. (CYN), a technology company, has announced a reverse stock split that is scheduled to take effect before the market opens on July 5, 2024. The reverse split will be conducted at a ratio of 1-for-100, meaning that each common share of Cyngn will be converted into the right to receive 0.01 new common shares of the company. Following the reverse split, the option symbol for Cyngn will change from CYN to CYN1. The new CUSIP number for Cyngn will be 23257B206. The pricing for the new CYN1 will be determined by multiplying the old CYN price by 0.01. This corporate event will result in adjustments to the contract multiplier, strike divisor, and the deliverable per contract for options and futures, as per the rules of the Options Clearing Corporation (OCC).

Cyngn Inc. (CYN), a technology company, has announced a reverse stock split that is scheduled to take effect before the market opens on July 5, 2024. The reverse split will be conducted at a ratio of 1-for-100, meaning that each common share of Cyngn will be converted into the right to receive 0.01 new common shares of the company. Following the reverse split, the option symbol for Cyngn will change from CYN to CYN1. The new CUSIP number for Cyngn will be 23257B206. The pricing for the new CYN1 will be determined by multiplying the old CYN price by 0.01. This corporate event will result in adjustments to the contract multiplier, strike divisor, and the deliverable per contract for options and futures, as per the rules of the Options Clearing Corporation (OCC).