Exyn Technologies (NASDAQ: EXYN) completes $19.4M IPO of stock-and-warrant units
Rhea-AI Filing Summary
Exyn Technologies, Inc. completed its initial public offering of 2,500,000 units at $7.75 per unit, raising approximately $19.4 million in gross proceeds before fees and expenses. Each unit includes one share of common stock and a warrant to buy one share at $9.69, exercisable for five years.
The units’ components trade on the Nasdaq Capital Market under the symbols EXYN and EXYNW. Exyn entered into an underwriting agreement with Lucid Capital Markets and a warrant agency agreement with Equiniti Trust Company, and issued additional warrants to the underwriter as compensation. The company plans to use net proceeds for growth capital, working capital, debt repayment, and general corporate purposes.
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Insights
Exyn completes $19.4M unit IPO with attached warrants.
Exyn Technologies has listed on Nasdaq via an offering of 2,500,000 units at $7.75 each, for gross proceeds of about $19.4 million. Each unit pairs one common share with a five-year warrant struck at $9.69, creating both immediate equity and future optionality.
Lucid Capital Markets acted as sole book-running manager, and Exyn granted a 30-day option that underwriters used to buy an additional 375,000 warrants at $0.01 each. The company also issued 71,875 representative’s warrants as underwriting compensation, modestly increasing potential future dilution relative to the base equity issued.
The company states it intends to deploy net proceeds toward growth capital, working capital, repayment of certain indebtedness, and general corporate purposes. Future filings may detail how quickly the funds are allocated across these uses and whether warrant exercises add incremental capital over the five-year exercise period.
8-K Event Classification
Key Figures
Key Terms
underwriting agreement financial
warrant agency agreement financial
gross proceeds financial
Nasdaq Capital Market financial
forward-looking statements financial
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): May 14, 2026
EXYN TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-43296 | 47-2345934 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 2118 Washington Avenue, Suite 1000 Philadelphia, Pennsylvania |
19146 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(215) 999-0200
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | 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 |
Name of each exchange on which registered | ||
| Common stock, par value $0.0001 per share | EXYN | The Nasdaq Stock Market LLC | ||
| Warrants, each warrant exercisable for one share of common stock at an exercise price of $9.69 | EXYNW | The Nasdaq Stock Market LLC |
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 x
If an emerging growth company, indicate by check mark 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 May 14, 2026, Exyn Technologies, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Lucid Capital Markets, LLC (“Lucid”), as representative of the underwriters named therein (the “Underwriters”), relating to the Company’s previously announced initial public offering (the “IPO”) of 2,500,000 units (the “Units”), with each Unit consisting of one share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (each, a “Warrant”), a form of which was previously filed as an exhibit to the Company’s registration statement on Form S-1, File No. 333-294453, as amended (the “Registration Statement”), filed with the U.S. Securities and Exchange Commission (the “Commission”). The Units were offered to the public at $7.75 per Unit, and the Underwriters purchased the Units from the Company at $7.13 per Unit, reflecting an underwriting discount of $0.62 per Unit. The Warrants are exercisable immediately upon issuance, expire five years after the initial issuance date and have an exercise price of $9.69 per share, subject to adjustment. The Company also granted the Underwriters a 30-day option to purchase up to an additional 375,000 shares of Common Stock and/or Warrants. On May 18, 2026, the Underwriters exercised their option to purchase an additional 375,000 Warrants at a purchase price of $0.01 per Warrant.
The Underwriting Agreement contains customary representations and warranties, agreements and obligations, closing conditions and termination provisions. The Company has agreed to indemnify the Underwriters against (or contribute to the payment of) certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).
This description of the Underwriting Agreement is qualified in its entirety by reference to the full text of the Underwriting Agreement attached hereto as Exhibit 1.1, which is incorporated by reference into this Item 1.01. Additionally, for a summary description of relationships between the Company and the Underwriters, see the section entitled “Underwriting” in the Registration Statement.
Also on May 14, 2026, the Company entered into a warrant agency agreement (the “Warrant Agency Agreement”) with Equiniti Trust Company, LLC (“Equiniti”), as warrant agent, in connection with the issuance, registration, transfer, exchange and exercise of the Warrants issued in the IPO, a form of which was previously filed as an exhibit to the Company’s Registration Statement filed with the Commission. Under the Warrant Agency Agreement, each Warrant entitles the registered holder to purchase one share of Common Stock at an exercise price of $9.69 per share, subject to adjustment, and the Warrants are exercisable for five years from the date of closing of the IPO.
The Warrant Agency Agreement provides that Warrants may be exercised by delivering a notice of exercise and paying the exercise price, or by cashless exercise if no effective registration statement or available prospectus covers the issuance of the shares underlying the Warrants. The Warrant Agency Agreement and form of Warrant provide for customary anti-dilution and other adjustment provisions.
This description of the Warrant Agency Agreement is qualified in its entirety by reference to the full text of the Warrant Agency Agreement attached hereto as Exhibit 4.1, which is incorporated by reference into this Item 1.01.
| Item 3.02 | Unregistered Sales of Equity Securities. |
On May 18, 2026, in connection with the closing of the IPO, the Company issued to Lucid (and/or its designees) warrants to purchase an aggregate of 71,875 shares of Common Stock (the “Representative’s Warrants”), a form of which was previously filed as an exhibit to the Registration Statement, at an exercise price of $9.69 per share, as underwriting compensation. The issuance of the Representative’s Warrants (and underlying shares of Common stock) are exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder.
| Item 5.03 | Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year. |
On May 18, 2026, in connection with the closing of the IPO, the Company’s amended and restated certificate of incorporation (the “Certificate”), as filed with the Secretary of State of the State of Delaware, and the Company’s amended and restated bylaws (the “Bylaws”) became effective. The Company’s board of directors and shareholders previously approved the Certificate and the Bylaws to be effective upon the closing of the IPO. The Certificate and the Bylaws are filed as Exhibits 3.1 and 3.2 hereto, respectively, and are incorporated herein by reference.
| Item 8.01 | Other Events. |
On May 18, 2026, the Company completed its IPO of 2,500,000 Units, with each Unit consisting of one share of Common Stock and a Warrant to purchase one share of Common Stock, at a price to the public of $7.75 per Unit. The gross proceeds to the Company from the IPO were approximately $19.4 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company.
On May 14, 2026, the Company issued a press release announcing the pricing of the IPO and on May 18, 2026, the Company issued a press release announcing the closing of the IPO (together, the ”Press Releases”). The Press Releases are filed as Exhibits 99.1 and 99.2 hereto, respectively, and are incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit No. |
Description of Exhibits | |
| 1.1 | Underwriting Agreement, dated May 14, 2026, by and among the Registrant and Lucid Capital Markets, LLC, as representative of the several underwriters named therein. | |
| 3.1 | Amended and Restated Certificate of Incorporation of the Registrant. | |
| 3.2 | Amended and Restated Bylaws of the Registrant. | |
| 4.1 | Warrant Agency Agreement, dated May 14, 2026, by and between the Registrant and Equiniti Trust Company, LLC, as warrant agent. | |
| 99.1 | Press Release, dated May 14, 2026, issued by the Registrant. | |
| 99.2 | Press Release, dated May 18, 2026, issued by the Registrant. |
SIGNATURES
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: May 19, 2026 | Exyn Technologies, Inc. | |
| By: | /s/ Brandon Torres Declet | |
| Brandon Torres Declet | ||
Exhibit 99.1
Exyn Announces Pricing of Initial Public Offering
PHILADELPHIA, PA—May 14, 2026—Exyn Technologies, Inc. (“Exyn” or the “Company”), a pioneer in multi-platform robotic autonomy for complex, GPS-denied environments, today announced the pricing of its initial public offering (the “Offering”) of 2,500,000 units with each unit consisting of one share of its common stock (the “Common Stock”) and one warrant to purchase one share of its common stock (the “Warrants”) at a public offering price of $7.75 per unit, for total gross proceeds of approximately $19.4 million, before deducting underwriting discounts and commissions and other offering expenses payable by Exyn. All of the shares of Common Stock and Warrants are being offered by the Company. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares of its Common Stock and/or 375,000 Warrants at the public offering price, less the underwriting discounts and commissions.
The shares of the Company’s Common Stock and Warrants are expected to begin trading on the Nasdaq Capital Market on May 15, 2026, under the ticker symbols “EXYN” and “EXYNW,” respectively. The Company intends to use the net proceeds from the Offering for growth capital, working capital, repayment of certain indebtedness, and general corporate purposes. The Offering is expected to close on or about May 18, 2026, subject to the satisfaction of customary closing conditions.
Lucid Capital Markets is acting as the sole book-running manager for the Offering.
A registration statement on Form S-1 (File No. 333-294453) relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on May 14, 2026. The Offering is being made only by means of a prospectus. A preliminary prospectus related to the Offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus will be filed with the SEC. Copies of the final prospectus related to the Offering may also be obtained, when available, by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Exyn Technologies, Inc.
Exyn is a robotics and artificial intelligence company developing autonomous mapping and navigation systems for complex, GPS-denied environments. The Company’s proprietary technology enables aerial and ground robotic systems to navigate, map and collect real-time 3D data in environments where GPS, communications or prior maps may be unavailable or unreliable.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements regarding the proposed Offering of the Company, the Company’s expectations regarding the completion of the Offering, the realization of any potential advantages, benefits and the impact of, and opportunities created by, the Offering, the ability of the Company to utilize the proceeds of the Offering in the manner intended, and the Company receiving all necessary approvals for the completion of the Offering, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. The forward-looking statements are based on certain assumptions which could change materially in the future. You should not place undue reliance on these forward-looking statements.
The Company does not undertake to update any forward-looking statement or forward-looking information, except in accordance with applicable securities laws.
Investor Relations Contact:
Crescendo Communications, LLC
Email: exyn@crescendo-ir.com
Tel: (212) 671-1020
Exhibit 99.2
Exyn Announces Closing of its Initial Public Offering
PHILADELPHIA, PA—May 18, 2026—Exyn Technologies, Inc. (“Exyn” or the “Company”) (NASDAQ: EXYN, EXYNW), a leader in autonomous mapping and perception-driven navigation for complex, GPS-denied environments, today announced the closing of its initial public offering (the “Offering”) of 2,500,000 units, with each unit consisting of one share of its common stock (the “Common Stock”) and one warrant to purchase one share of its common stock (the “Warrants”) at a public offering price of $7.75 per unit.
The shares of Common Stock and Warrants began trading on the Nasdaq Capital Market on May 15, 2026, under the ticker symbols “EXYN” and “EXYNW,” respectively.
The aggregate gross proceeds from the Offering, before deducting underwriting discounts and commissions and other offering expenses payable by Exyn, were approximately $19.4 million. The Company intends to use the net proceeds from the Offering for growth capital, working capital, repayment of certain indebtedness, and general corporate purposes.
Lucid Capital Markets acted as the sole book-running manager for the Offering.
A registration statement on Form S-1 (File No. 333-294453) relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on May 14, 2026. The Offering was made only by means of a prospectus. The final prospectus related to the Offering was filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus related to the Offering may also be obtained by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Exyn Technologies
Exyn Technologies, Inc. (NASDAQ: EXYN, EXYNW) is a leader in autonomous mapping and perception-driven navigation for complex, GPS-denied environments. Powered by ExynAI, the Company’s autonomy engine, Exyn enables high-accuracy 3D data capture across handheld, backpack, vehicle-mounted, aerial, and robotic deployments. Exyn serves customers across mining, construction, geospatial, infrastructure, industrial, and mission-critical environments.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements regarding the proposed Offering of the Company, the realization of any potential advantages, benefits and the impact of, and opportunities created by, the Offering, and the ability of the Company to utilize the proceeds of the Offering in the manner intended, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. The forward-looking statements are based on certain assumptions which could change materially in the future. You should not place undue reliance on these forward-looking statements.
The Company does not undertake to update any forward-looking statement or forward-looking information, except in accordance with applicable securities laws.
Media Contact
Vanessa Varian
Exyn
vvarian@exyn.com
Investor Contact
Crescendo Communications, LLC
exyn@crescendo-ir.com
(212) 671-1020