Cyngn Inc. is offering 3,076,006 Units and 9,346,354 Pre-Funded Units in a $20 million public offering. Each Unit consists of one share of common stock, one Series A Warrant, and one Series B Warrant, priced at $1.61. Pre-Funded Units are priced at $1.6099 each.The Series A Warrants have a 5-year term and Series B Warrants have a 2.5-year term, both exercisable at $2.0125 per share upon stockholder approval. The offering includes an over-allotment option and is expected to close on December 23, 2024. Aegis Capital Corp. is acting as the sole placement agent.Cyngn intends to use the net proceeds, estimated at $18.2 million, for working capital, general corporate purposes, and to repay $4.375 million in outstanding senior notes. The company's common stock is listed on Nasdaq under "CYN", but the new securities will not be listed. The offering aims to strengthen Cyngn's financial position as it develops autonomous vehicle technology for industrial applications.

Cyngn Inc. is offering 3,076,006 Units and 9,346,354 Pre-Funded Units in a $20 million public offering. Each Unit consists of one share of common stock, one Series A Warrant, and one Series B Warrant, priced at $1.61. Pre-Funded Units are priced at $1.6099 each.The Series A Warrants have a 5-year term and Series B Warrants have a 2.5-year term, both exercisable at $2.0125 per share upon stockholder approval. The offering includes an over-allotment option and is expected to close on December 23, 2024. Aegis Capital Corp. is acting as the sole placement agent.Cyngn intends to use the net proceeds, estimated at $18.2 million, for working capital, general corporate purposes, and to repay $4.375 million in outstanding senior notes. The company's common stock is listed on Nasdaq under "CYN", but the new securities will not be listed. The offering aims to strengthen Cyngn's financial position as it develops autonomous vehicle technology for industrial applications.