Cyngn Inc (CYN) Prices $5 Million Public Offering of Common Stock
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Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the pricing of its common stock public offering made on a reasonable best-efforts basis with gross proceeds of approximately
The offering is expected to close on
The Company expects to use the net proceeds from the offering for general corporate purposes, including working capital.
Aegis Capital Corp. is acting as exclusive placement agent for the offering.
A registration statement on Form S-1 (File No. 333-275530) relating to the offering of the securities was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on
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