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CYRN announced on October 6 that it received written notification from the Nasdaq Capital Market that it needed to regain compliance with Nasdaq’s minimum bid price requirement by April 4, 2022. In addition, the company has been selling shares and intends to use the proceeds for working capital purposes and the repayment of debt.
On September 20, CYRN completed a private offering of roughly 14 million of its ordinary shares. However, this transaction could lead to share dilution. So, CYRN’s near-term prospects look uncertain.
