On December 31, 2023, Empery Asset Management, LP, along with its managing members Ryan M. Lane and Martin D. Hoe, filed an amended Schedule 13G with the SEC, indicating a change in their holdings in Cyngn Inc. The amendment corrects a previous error regarding the blocker percentage for Pre-Funded Warrants, which was listed as 9.99% but should have been 4.99%. As a result, the reporting persons never beneficially owned more than 4.99% of the outstanding shares of Cyngn Inc. The filing also states that the shares and warrants reported are subject to a 4.99% blocker, preventing the exercise of warrants that would result in ownership exceeding this threshold. The Investment Manager, Empery Asset Management, LP, and the Reporting Individuals, Lane and Hoe, may be deemed to...Show More

On December 31, 2023, Empery Asset Management, LP, along with its managing members Ryan M. Lane and Martin D. Hoe, filed an amended Schedule 13G with the SEC, indicating a change in their holdings in Cyngn Inc. The amendment corrects a previous error regarding the blocker percentage for Pre-Funded Warrants, which was listed as 9.99% but should have been 4.99%. As a result, the reporting persons never beneficially owned more than 4.99% of the outstanding shares of Cyngn Inc. The filing also states that the shares and warrants reported are subject to a 4.99% blocker, preventing the exercise of warrants that would result in ownership exceeding this threshold. The Investment Manager, Empery Asset Management, LP, and the Reporting Individuals, Lane and Hoe, may be deemed to beneficially own the shares and warrants held by the Empery Funds, subject to the blockers. The filing was made to clarify that the Reporting Persons do not beneficially own more than 5% of Cyngn Inc's outstanding shares, and the securities were not acquired for the purpose of changing or influencing the control of the issuer.