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Cyngn | 1-A: Others

SEC announcement ·  Aug 15 18:28
Summary by Futu AI
Cyngn, Inc., a Delaware-incorporated company specializing in computer programming services, has filed a Form 1-A with the U.S. Securities and Exchange Commission (SEC) for a Regulation A offering. The company, which employs 74 full-time employees and is headquartered in Menlo Park, California, reported having $5,930,977 in cash and cash equivalents and total assets of $11,928,810. Cyngn's financial statements reveal a net loss of $11,789,031 with a basic and diluted earnings per share of -$12.15. The offering statement includes a balance sheet and a statement of comprehensive income, audited by Marcum LLP. Cyngn plans to offer 3,125,000 securities at $8.00 per security, aiming to raise $25,000,000. The offering will be conducted in multiple U.S. states and Canadian provinces, with Maxim Group LLC acting as the sales commission agent, receiving a fee of $1,250,000. Legal services are provided by Sichenzia Ross Ference Carmel LLP, with legal fees totaling up to $115,000. The company's common stock is listed on The Nasdaq Stock Market LLC under the CUSIP 23257B206, with 1,769,946 units outstanding.
Cyngn, Inc., a Delaware-incorporated company specializing in computer programming services, has filed a Form 1-A with the U.S. Securities and Exchange Commission (SEC) for a Regulation A offering. The company, which employs 74 full-time employees and is headquartered in Menlo Park, California, reported having $5,930,977 in cash and cash equivalents and total assets of $11,928,810. Cyngn's financial statements reveal a net loss of $11,789,031 with a basic and diluted earnings per share of -$12.15. The offering statement includes a balance sheet and a statement of comprehensive income, audited by Marcum LLP. Cyngn plans to offer 3,125,000 securities at $8.00 per security, aiming to raise $25,000,000. The offering will be conducted in multiple U.S. states and Canadian provinces, with Maxim Group LLC acting as the sales commission agent, receiving a fee of $1,250,000. Legal services are provided by Sichenzia Ross Ference Carmel LLP, with legal fees totaling up to $115,000. The company's common stock is listed on The Nasdaq Stock Market LLC under the CUSIP 23257B206, with 1,769,946 units outstanding.
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