Cyngn Inc. Announces the Closing of $15 Million Registered Direct Offering
Cyngn (NASDAQ: CYN) has successfully closed a $15 million registered direct offering with a single institutional investor. The offering included 2,994,012 shares of Common Stock and pre-funded warrants at $5.01 per share. The pre-funded warrants were priced at $5.00999 with an exercise price of $0.00001 and are immediately exercisable.
The company plans to use the proceeds for general corporate purposes and working capital. Aegis Capital Corp. served as the exclusive placement agent, with the offering made pursuant to an effective shelf registration statement on Form S-3.
["Secured $15 million in additional funding", "Single institutional investor participation indicates strong institutional interest", "Pre-funded warrants are immediately exercisable"]Cyngn (NASDAQ: CYN) ha completato con successo un aumento di capitale diretto registrato da 15 milioni di dollari con un unico investitore istituzionale. L'offerta comprendeva 2.994.012 azioni ordinarie e warrant pre-finanziati a 5,01 dollari per azione. I warrant pre-finanziati sono stati valutati a 5,00999 dollari con un prezzo di esercizio di 0,00001 dollari e sono immediatamente esercitabili.
La società intende utilizzare i proventi per scopi aziendali generali e capitale circolante. Aegis Capital Corp. ha agito come agente di collocamento esclusivo, con l'offerta effettuata in base a una dichiarazione di registrazione a scaffale efficace sul modulo S-3.
- Raccolti 15 milioni di dollari di finanziamenti aggiuntivi
- La partecipazione di un singolo investitore istituzionale indica un forte interesse da parte delle istituzioni
- I warrant pre-finanziati sono immediatamente esercitabili
Cyngn (NASDAQ: CYN) ha cerrado con éxito una oferta directa registrada de 15 millones de dólares con un único inversor institucional. La oferta incluyó 2,994,012 acciones ordinarias y warrants prefinanciados a 5.01 dólares por acción. Los warrants prefinanciados se valoraron en 5.00999 dólares con un precio de ejercicio de 0.00001 dólares y son ejercitables de inmediato.
La compañía planea utilizar los ingresos para propósitos corporativos generales y capital de trabajo. Aegis Capital Corp. actuó como agente de colocación exclusivo, con la oferta realizada conforme a una declaración de registro efectiva en el Formulario S-3.
- Se aseguraron 15 millones de dólares en financiamiento adicional
- La participación de un solo inversor institucional indica un fuerte interés institucional
- Los warrants prefinanciados son ejercitables de inmediato
Cyngn (NASDAQ: CYN)는 단일 기관 투자자와 함께 1,500만 달러 규모의 등록 직접 공모를 성공적으로 마무리했습니다. 이번 공모에는 2,994,012주의 보통주와 주당 5.01달러에 발행된 선납 워런트가 포함되었습니다. 선납 워런트는 5.00999달러에 가격이 책정되었으며 행사가격은 0.00001달러로, 즉시 행사할 수 있습니다.
회사는 이번 자금을 일반 기업 목적과 운전자본으로 사용할 계획입니다. Aegis Capital Corp.가 독점 배정 대리인으로 참여했으며, 이번 공모는 Form S-3의 유효한 선반 등록 명세서에 따라 진행되었습니다.
- 1,500만 달러 추가 자금 확보
- 단일 기관 투자자의 참여는 강한 기관 투자자 관심을 나타냄
- 선납 워런트는 즉시 행사 가능
Cyngn (NASDAQ : CYN) a clôturé avec succès une offre directe enregistrée de 15 millions de dollars auprès d'un investisseur institutionnel unique. L'offre comprenait 2 994 012 actions ordinaires et des bons de souscription préfinancés à 5,01 dollars par action. Les bons préfinancés ont été évalués à 5,00999 dollars avec un prix d'exercice de 0,00001 dollar et sont immédiatement exerçables.
La société prévoit d'utiliser les fonds pour des besoins généraux d'entreprise et le fonds de roulement. Aegis Capital Corp. a agi en tant qu'agent de placement exclusif, l'offre étant réalisée conformément à une déclaration d'enregistrement en vigueur sur le formulaire S-3.
- 15 millions de dollars de financement supplémentaire sécurisés
- La participation d'un investisseur institutionnel unique témoigne d'un fort intérêt institutionnel
- Les bons préfinancés sont immédiatement exerçables
Cyngn (NASDAQ: CYN) hat erfolgreich ein direktes registriertes Angebot über 15 Millionen US-Dollar mit einem einzelnen institutionellen Investor abgeschlossen. Das Angebot umfasste 2.994.012 Stammaktien und vorfinanzierte Optionsscheine zu 5,01 US-Dollar pro Aktie. Die vorfinanzierten Optionsscheine wurden zu 5,00999 US-Dollar mit einem Ausübungspreis von 0,00001 US-Dollar bewertet und sind sofort ausübbar.
Das Unternehmen plant, die Erlöse für allgemeine Unternehmenszwecke und Betriebskapital zu verwenden. Aegis Capital Corp. fungierte als exklusiver Platzierungsagent, wobei das Angebot gemäß einer wirksamen Shelf-Registrierungserklärung auf Formular S-3 erfolgte.
- 15 Millionen US-Dollar zusätzliche Finanzierung gesichert
- Die Teilnahme eines einzelnen institutionellen Investors zeigt starkes institutionelles Interesse
- Vorfinanzierte Optionsscheine sind sofort ausübbar
- None.
- Potential dilution for existing shareholders
- Offering price may represent a discount to market price
Insights
Cyngn secured $15M through a registered direct offering, strengthening its balance sheet but diluting existing shareholders.
Cyngn has completed a
This financing represents a significant capital injection for Cyngn, particularly notable as it was conducted with just one institutional investor rather than a broader offering. The structure as a registered direct offering (using an existing shelf registration) allowed for a more streamlined process compared to a traditional public offering.
The inclusion of pre-funded warrants (with a nominal
While this financing strengthens Cyngn's balance sheet and provides working capital, existing shareholders will experience dilution from the nearly 3 million new shares. The company's decision to raise capital through equity rather than debt suggests a strategic preference for avoiding interest obligations, though at the cost of ownership dilution.
The successful closing indicates institutional confidence in Cyngn's future prospects, though the specific use of proceeds beyond "general corporate purposes" remains vague, providing limited insight into the company's immediate strategic priorities or cash burn rate.
The offering consisted of the sale of 2,994,012 shares of Common Stock (or Pre-Funded Warrants. The public offering price per share of Common Stock was
Aggregate gross proceeds to the Company were approximately
Aegis Capital Corp. acted as exclusive placement agent for the offering. Sichenzia Ross Ference Carmel LLP acted as counsel to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
The registered direct offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-271567) previously filed with the
Interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cyngn
Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents.
Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts.
The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025.
Investor Contact:
Natalie Russell, Interim CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
Where to Find Cyngn
- Website: https://cyngn.com
- X: https://x.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE Cyngn
FAQ
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