Cyngn Inc is a technology company that specializes in developing advanced autonomous vehicle software solutions aimed at transforming industrial operations
The company focuses on creating intelligent vehicle systems that enhance safety, efficiency, and productivity in a variety of sectors, including logistics and warehousing. By leveraging artificial intelligence and machine learning, Cyngn enables companies to automate their fleet operations, streamline workflows, and optimize resource management, ultimately contributing to the evolution of modern industrial mobility.
Cyngn (NASDAQCYN), a developer of AI-powered autonomous driving software solutions for industrial applications, has announced the closing of its registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 15,000,000 shares of common stock (or pre-funded warrants in lieu thereof) at a purchase price of $0.60 per share (or $0.5999 for each pre-funded warrant). Cyngn secured gross proceeds of $9.0 million from the offering, of which it intends to use the net, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. acted as exclusive placement agent for the offering. Sichenzia Ross Ference Carmel LLP acted as counsel to the company, and Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
Cyngn (NASDAQCYN), a developer of AI-powered autonomous driving software solutions for industrial applications, has announced the closing of a follow-on offering, priced at the market, with gross proceeds to the company of approximately $20.0 million. The transaction closed on Dec. 23, 2024. Cyngn intends to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. acted as exclusive placement agent for the offering. Sichenzia Ross Ference Carmel LLP acted as counsel to the company, and Kaufman & Canoles, P.C. acted as counsel to Aegis.
Aegis Capital has been in the wealth management and investment banking business since 1984 and is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis has announced that it acted as exclusive placement agent on a $3.5 million private placement for Cyngn (NASDAQCYN) .
NEW YORK, NY / ACCESSWIRE / November 14, 2024 / Aegis Capital Corp. acted as Exclusive Placement Agent on a $3.5 Million Private Placement for Cyngn Inc. (NASDAQCYN).
In a wave of groundbreaking developments, Cardiol Therapeutics Inc. (Nasdaq: CRDL), Modular Medical, Inc. (Nasdaq: MODD), and Cyngn Inc. (Nasdaq: CYN) each report advancements that promise to reshape the pharmaceutical, medical, and industrial automation landscapes.
