Summary by Futu AI
Cyngn Inc., identified by CIK number 0001874097, has made a significant step forward in its capital-raising efforts. On April 23, 2024, Aegis Capital Corp., acting on behalf of Cyngn, formally requested the U.S. Securities and Exchange Commission (SEC) to accelerate the effective date of its Registration Statement on Form S-1, initially filed under number 333-278671. The request, made under Rule 461 of the Securities Act of 1933, as amended, aims for the Registration Statement to become effective at 1:00 p.m. Eastern Time on the same day or as soon thereafter as is feasible. Additionally, in compliance with Rule 460, Aegis Capital Corp. has committed to distributing a sufficient number of electronic copies of the preliminary prospectus to ensure its adequate dissemination among potential investors.