Cyngn Inc. (Cyngn), a Delaware-based autonomous vehicle technology company, has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed public offering. The company plans to offer up to 52,015,605 shares of common stock, pre-funded warrants to purchase up to 52,015,605 shares of common stock, and the common stock issuable upon the exercise of the pre-funded warrants. The offering is on a firm commitment basis, with Aegis Capital Corp. acting as the sole underwriter. The proposed sale to the public is set to commence as soon as practicable after the effective date of the registration statement. Cyngn has granted Aegis an over-allotment option, exercisable for 45 days, to purchase additional shares...Show More

Cyngn Inc. (Cyngn), a Delaware-based autonomous vehicle technology company, has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed public offering. The company plans to offer up to 52,015,605 shares of common stock, pre-funded warrants to purchase up to 52,015,605 shares of common stock, and the common stock issuable upon the exercise of the pre-funded warrants. The offering is on a firm commitment basis, with Aegis Capital Corp. acting as the sole underwriter. The proposed sale to the public is set to commence as soon as practicable after the effective date of the registration statement. Cyngn has granted Aegis an over-allotment option, exercisable for 45 days, to purchase additional shares representing 15% of the shares and/or pre-funded warrants sold in the offering. The company intends to use the net proceeds for general corporate purposes, including working capital. The common stock is listed on The Nasdaq Capital Market under the symbol 'CYN', and the company does not intend to list the pre-funded warrants on any national securities exchange or other trading system. The final public offering price will be determined through negotiation between Cyngn and the underwriter.