STOCK TITAN

[8-K] Cyngn Inc. Reports Material Event

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Magnite, Inc. (MGNI) filed a Form 144 indicating a planned sale of 9,289 common shares worth approximately $204,358 at prevailing market prices. The shares were originally acquired on 02/15/2024 as restricted stock directly from the issuer and will be executed through Morgan Stanley Smith Barney LLC on or about 06/30/2025. Total shares outstanding are reported at 141,110,559, so the proposed sale represents less than 0.01 % of the float.

The filing lists David Buonasera as the selling shareholder, who has already disposed of 12,395 shares over the past three months for gross proceeds of $194,776.59. While the dollar amounts are modest relative to Magnite’s market capitalization, consecutive insider sales can raise sentiment concerns for some investors. The form contains no operational or financial performance data and makes no assertions about Magnite’s fundamentals; it solely discloses the insider’s intent to sell under Rule 144.

Magnite, Inc. (MGNI) ha presentato un Modulo 144 indicando la vendita pianificata di 9.289 azioni ordinarie per un valore approssimativo di 204.358 $ ai prezzi di mercato correnti. Le azioni sono state originariamente acquisite il 15/02/2024 come azioni vincolate direttamente dall'emittente e la vendita sarà eseguita tramite Morgan Stanley Smith Barney LLC intorno al 30/06/2025. Il numero totale di azioni in circolazione è riportato a 141.110.559, quindi la vendita proposta rappresenta meno dello 0,01% del flottante.

Il documento indica David Buonasera come azionista venditore, che ha già ceduto 12.395 azioni negli ultimi tre mesi per un ricavo lordo di 194.776,59 $. Sebbene gli importi in dollari siano modesti rispetto alla capitalizzazione di mercato di Magnite, vendite consecutive da parte di insider possono suscitare preoccupazioni tra alcuni investitori. Il modulo non contiene dati operativi o finanziari né affermazioni sui fondamentali di Magnite; si limita a divulgare l'intenzione dell'insider di vendere secondo la Regola 144.

Magnite, Inc. (MGNI) presentó un Formulario 144 indicando una venta planificada de 9,289 acciones comunes por un valor aproximado de $204,358 a los precios de mercado vigentes. Las acciones fueron adquiridas originalmente el 15/02/2024 como acciones restringidas directamente del emisor y se ejecutarán a través de Morgan Stanley Smith Barney LLC alrededor del 30/06/2025. El total de acciones en circulación es de 141,110,559, por lo que la venta propuesta representa menos del 0.01% del flotante.

El documento lista a David Buonasera como el accionista vendedor, quien ya ha vendido 12,395 acciones en los últimos tres meses por ingresos brutos de $194,776.59. Aunque las cantidades en dólares son modestas en relación con la capitalización de mercado de Magnite, ventas consecutivas por parte de insiders pueden generar preocupaciones entre algunos inversores. El formulario no contiene datos operativos ni financieros y no hace afirmaciones sobre los fundamentos de Magnite; solo revela la intención del insider de vender bajo la Regla 144.

Magnite, Inc.(MGNI)는 9,289주의 보통주를 현재 시장 가격으로 약 204,358달러에 매각할 계획임을 알리는 Form 144를 제출했습니다. 해당 주식은 2024년 2월 15일에 발행사로부터 제한 주식으로 직접 취득했으며, 2025년 6월 30일경 Morgan Stanley Smith Barney LLC를 통해 거래가 실행될 예정입니다. 총 발행 주식 수는 141,110,559주로, 이번 매각은 유통 주식의 0.01% 미만에 해당합니다.

서류에는 매도 주주로 David Buonasera가 명시되어 있으며, 그는 지난 3개월 동안 이미 12,395주를 매도하여 총 194,776.59달러의 수익을 올렸습니다. 금액은 Magnite의 시가총액에 비해 적은 편이지만, 연속적인 내부자 매도는 일부 투자자에게 우려를 불러일으킬 수 있습니다. 이 서류에는 운영 또는 재무 성과 데이터가 포함되어 있지 않으며, Magnite의 기본적인 사항에 대한 언급도 없고, 단지 내부자의 Rule 144에 따른 매도 의도를 공개하고 있습니다.

Magnite, Inc. (MGNI) a déposé un formulaire 144 indiquant un projet de vente de 9 289 actions ordinaires d'une valeur d'environ 204 358 $ aux prix du marché en vigueur. Les actions ont été initialement acquises le 15/02/2024 sous forme d'actions restreintes directement auprès de l'émetteur et la vente sera réalisée par l'intermédiaire de Morgan Stanley Smith Barney LLC aux alentours du 30/06/2025. Le nombre total d'actions en circulation est de 141 110 559, ce qui signifie que la vente proposée représente moins de 0,01 % du flottant.

Le dépôt mentionne David Buonasera comme actionnaire vendeur, qui a déjà cédé 12 395 actions au cours des trois derniers mois pour un produit brut de 194 776,59 $. Bien que les montants en dollars soient modestes par rapport à la capitalisation boursière de Magnite, des ventes consécutives d'initiés peuvent susciter des inquiétudes chez certains investisseurs. Le formulaire ne contient aucune donnée opérationnelle ou financière et ne fait aucune déclaration sur les fondamentaux de Magnite ; il se limite à divulguer l'intention de l'initié de vendre selon la règle 144.

Magnite, Inc. (MGNI) hat ein Formular 144 eingereicht, das einen geplanten Verkauf von 9.289 Stammaktien im Wert von etwa 204.358 $ zu den aktuellen Marktpreisen anzeigt. Die Aktien wurden ursprünglich am 15.02.2024 als eingeschränkte Aktien direkt vom Emittenten erworben und sollen über Morgan Stanley Smith Barney LLC am oder um den 30.06.2025 ausgeführt werden. Die Gesamtzahl der ausstehenden Aktien beträgt 141.110.559, sodass der geplante Verkauf weniger als 0,01 % des Streubesitzes ausmacht.

Die Einreichung nennt David Buonasera als verkaufenden Aktionär, der in den letzten drei Monaten bereits 12.395 Aktien für Bruttoerlöse von 194.776,59 $ veräußert hat. Obwohl die Dollarbeträge im Verhältnis zur Marktkapitalisierung von Magnite moderat sind, können aufeinanderfolgende Insider-Verkäufe bei einigen Investoren Besorgnis hervorrufen. Das Formular enthält keine operativen oder finanziellen Leistungsdaten und macht keine Aussagen zu den Fundamentaldaten von Magnite; es offenbart lediglich die Verkaufsabsicht des Insiders gemäß Regel 144.

Positive
  • None.
Negative
  • Insider continues to sell shares, potentially signaling reduced personal confidence although amounts are immaterial.

Insights

TL;DR: Small, routine Rule 144 sale; sentiment slightly negative but immaterial financially.

The transaction involves 9,289 shares, following two earlier sales in May totaling 12,395 shares. Cumulatively, the insider will have sold about 21,684 shares—still an insignificant fraction of Magnite’s ~141 million shares outstanding. Because no additional context (e.g., option expirations, tax obligations) is provided, investors may view the pattern as mild bearish sentiment from the insider. However, the dollar value is too small to affect liquidity or ownership structure. I classify the filing as not impactful for valuation, but worth noting in governance tracking.

Magnite, Inc. (MGNI) ha presentato un Modulo 144 indicando la vendita pianificata di 9.289 azioni ordinarie per un valore approssimativo di 204.358 $ ai prezzi di mercato correnti. Le azioni sono state originariamente acquisite il 15/02/2024 come azioni vincolate direttamente dall'emittente e la vendita sarà eseguita tramite Morgan Stanley Smith Barney LLC intorno al 30/06/2025. Il numero totale di azioni in circolazione è riportato a 141.110.559, quindi la vendita proposta rappresenta meno dello 0,01% del flottante.

Il documento indica David Buonasera come azionista venditore, che ha già ceduto 12.395 azioni negli ultimi tre mesi per un ricavo lordo di 194.776,59 $. Sebbene gli importi in dollari siano modesti rispetto alla capitalizzazione di mercato di Magnite, vendite consecutive da parte di insider possono suscitare preoccupazioni tra alcuni investitori. Il modulo non contiene dati operativi o finanziari né affermazioni sui fondamentali di Magnite; si limita a divulgare l'intenzione dell'insider di vendere secondo la Regola 144.

Magnite, Inc. (MGNI) presentó un Formulario 144 indicando una venta planificada de 9,289 acciones comunes por un valor aproximado de $204,358 a los precios de mercado vigentes. Las acciones fueron adquiridas originalmente el 15/02/2024 como acciones restringidas directamente del emisor y se ejecutarán a través de Morgan Stanley Smith Barney LLC alrededor del 30/06/2025. El total de acciones en circulación es de 141,110,559, por lo que la venta propuesta representa menos del 0.01% del flotante.

El documento lista a David Buonasera como el accionista vendedor, quien ya ha vendido 12,395 acciones en los últimos tres meses por ingresos brutos de $194,776.59. Aunque las cantidades en dólares son modestas en relación con la capitalización de mercado de Magnite, ventas consecutivas por parte de insiders pueden generar preocupaciones entre algunos inversores. El formulario no contiene datos operativos ni financieros y no hace afirmaciones sobre los fundamentos de Magnite; solo revela la intención del insider de vender bajo la Regla 144.

Magnite, Inc.(MGNI)는 9,289주의 보통주를 현재 시장 가격으로 약 204,358달러에 매각할 계획임을 알리는 Form 144를 제출했습니다. 해당 주식은 2024년 2월 15일에 발행사로부터 제한 주식으로 직접 취득했으며, 2025년 6월 30일경 Morgan Stanley Smith Barney LLC를 통해 거래가 실행될 예정입니다. 총 발행 주식 수는 141,110,559주로, 이번 매각은 유통 주식의 0.01% 미만에 해당합니다.

서류에는 매도 주주로 David Buonasera가 명시되어 있으며, 그는 지난 3개월 동안 이미 12,395주를 매도하여 총 194,776.59달러의 수익을 올렸습니다. 금액은 Magnite의 시가총액에 비해 적은 편이지만, 연속적인 내부자 매도는 일부 투자자에게 우려를 불러일으킬 수 있습니다. 이 서류에는 운영 또는 재무 성과 데이터가 포함되어 있지 않으며, Magnite의 기본적인 사항에 대한 언급도 없고, 단지 내부자의 Rule 144에 따른 매도 의도를 공개하고 있습니다.

Magnite, Inc. (MGNI) a déposé un formulaire 144 indiquant un projet de vente de 9 289 actions ordinaires d'une valeur d'environ 204 358 $ aux prix du marché en vigueur. Les actions ont été initialement acquises le 15/02/2024 sous forme d'actions restreintes directement auprès de l'émetteur et la vente sera réalisée par l'intermédiaire de Morgan Stanley Smith Barney LLC aux alentours du 30/06/2025. Le nombre total d'actions en circulation est de 141 110 559, ce qui signifie que la vente proposée représente moins de 0,01 % du flottant.

Le dépôt mentionne David Buonasera comme actionnaire vendeur, qui a déjà cédé 12 395 actions au cours des trois derniers mois pour un produit brut de 194 776,59 $. Bien que les montants en dollars soient modestes par rapport à la capitalisation boursière de Magnite, des ventes consécutives d'initiés peuvent susciter des inquiétudes chez certains investisseurs. Le formulaire ne contient aucune donnée opérationnelle ou financière et ne fait aucune déclaration sur les fondamentaux de Magnite ; il se limite à divulguer l'intention de l'initié de vendre selon la règle 144.

Magnite, Inc. (MGNI) hat ein Formular 144 eingereicht, das einen geplanten Verkauf von 9.289 Stammaktien im Wert von etwa 204.358 $ zu den aktuellen Marktpreisen anzeigt. Die Aktien wurden ursprünglich am 15.02.2024 als eingeschränkte Aktien direkt vom Emittenten erworben und sollen über Morgan Stanley Smith Barney LLC am oder um den 30.06.2025 ausgeführt werden. Die Gesamtzahl der ausstehenden Aktien beträgt 141.110.559, sodass der geplante Verkauf weniger als 0,01 % des Streubesitzes ausmacht.

Die Einreichung nennt David Buonasera als verkaufenden Aktionär, der in den letzten drei Monaten bereits 12.395 Aktien für Bruttoerlöse von 194.776,59 $ veräußert hat. Obwohl die Dollarbeträge im Verhältnis zur Marktkapitalisierung von Magnite moderat sind, können aufeinanderfolgende Insider-Verkäufe bei einigen Investoren Besorgnis hervorrufen. Das Formular enthält keine operativen oder finanziellen Leistungsdaten und macht keine Aussagen zu den Fundamentaldaten von Magnite; es offenbart lediglich die Verkaufsabsicht des Insiders gemäß Regel 144.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 27, 2025

 

CYNGN INC.

(Exact name of registrant as specified in charter)

 

Delaware   001-40932   46-2007094
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

1344 Terra Bella Avenue

Mountain View, CA 94043

(Address of principal executive offices) (Zip Code)

 

(650) 924-5905

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock   CYN   The Nasdaq Stock Market LLC (The Nasdaq Capital Market)

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On June 27, 2025, Cyngn Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the institutional investors named on the signature page thereto, pursuant to which the Company agreed to sell and issue, in a registered direct offering (the “Offering”), 313,564 shares (the “Shares”) of its common stock, par value $0.00001 per share (“Common Stock”), at a purchase price of $7.50 per share and 1,979,769 pre-funded warrants (the “Pre-Funded Warrants”) to purchase shares of Common Stock, at a purchase price of $7.49999 per Pre-Funded Warrant.

 

The Offering was made pursuant to that certain Registration Statement on Form S-3, as amended (File No. 333-271567), which was originally filed on May 2, 2023, and declared effective by the Securities and Exchange Commission on June 13, 2023, including the Prospectus contained therein and a prospectus supplement dated June 27, 2025 filed with the Securities and Exchange Commission on June 30, 2025.

 

The closing of the Offering occurred on June 30, 2025. The Company received net proceeds of approximately $14.7 million from the Offering, after deducting the estimated offering expenses payable by the Company, including the placement agent fees. The Company intends to use the net proceeds from the Offering for general corporate purposes, including working capital.

 

In connection with the Offering, the Company entered into a Placement Agent Agreement (the “Placement Agent Agreement”) with Aegis Capital Corp. (the “Placement Agent”), as the exclusive placement agent in connection with the Offering. As compensation to the Placement Agent, the Company paid the Placement Agent a cash fee of 7% of the aggregate gross proceeds raised in the Offering and reimbursed certain expenses of the Placement Agent. The Company is also obligated to pay to a former placement agent under the tail provisions of the engagement letter, a cash fee of $1,204,000 and warrants to purchase 160,533 shares of the Company’s common stock, which warrants will have a term of five years, exercisable at a price of $9.375.

 

The foregoing summaries of the Pre-Funded Warrants, Purchase Agreement and the Placement Agent Agreement do not purport to be complete and are subject to, and qualified in their entirety by, copies of such documents attached as Exhibits 4.1, 10.1 and 10.2 to this Current Report on Form 8-K, which are incorporated by reference herein.

 

Immediately after the issuance of the Shares and shares of Common Stock issued upon exercise of certain of the Pre-Funded Warrants, the Company has 7,039,266 shares of Common Stock issued and outstanding.

 

Item 8.01 Other Events.

 

On June 27, 2025, the Company issued a press release announcing the pricing of the Offering, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein. Also, on June 30, 2025, the Company issued a press release announcing the closing of the Offering, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K and is hereby incorporated by reference herein.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed herewith:

 

Exhibit No.   Description
4.1   Form of Pre-Funded Warrant
5.1   Opinion of Sichenzia Ross Ference Carmel LLP
10.1   Form of Securities Purchase Agreement by and between Cyngn Inc. and the Purchasers
10.2   Placement Agent Agreement between the Company and Aegis Capital Corp. dated June 27, 2025
23.1   Consent of Sichenzia Ross Ference Carmel LLP (contained in Exhibit 5.1)
99.1   Press Release issued by the Company on June 27, 2025
99.2   Press Release issued by the Company on June 30, 2025
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 30, 2025

 

CYNGN INC.  
   
By: /s/ Natalie Russell  
  Natalie Russell  
  Interim Chief Financial Officer  

 

 

2

 

FAQ

What is Magnite (MGNI) disclosing in this Form 144?

The company reports an insider’s plan to sell 9,289 common shares worth about $204k on or after 06/30/2025.

Who is selling the shares according to the filing?

David Buonasera is listed as the selling shareholder under Rule 144.

How many Magnite shares has the insider sold recently?

The insider sold 12,395 shares in May 2025 and now plans to sell an additional 9,289 shares.

What percentage of Magnite’s outstanding shares does the planned sale represent?

Less than 0.01 % of the 141,110,559 shares outstanding.

Does the filing include any financial performance data?

No, Form 144 only details the intended sale; it contains no earnings or operational metrics.
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