Cyngn is conducting a $17M registered direct offering
From Yahoo Finance: 2025-06-28 09:05:00
Cyngn (CYN) has entered into definitive agreements for a registered direct offering with an institutional investor, selling approximately $17.2M of shares of Common Stock and pre-funded warrants at $7.50 per share. The company will fully utilize its shelf registration statement, with expected gross proceeds of $17.2 million. The transaction is set to close on June 30, 2025, with Aegis Capital Corp. as the exclusive placement agent and Sichenzia Ross Ference Carmel LLP as counsel. The net proceeds will be used for general corporate purposes and working capital.