Cyngn Clears All Outstanding Cashless Warrants from December Capital Raise

Core Insights - Cyngn Inc. has fully exercised all outstanding Series B cashless warrants, which were part of a public offering that closed on December 23, 2024 [1] - The stockholders approved the issuance of Series A and Series B Warrants, adjusting the exercise price to $0.322 and increasing the number of shares underlying the Warrants to approximately 77,639,749 shares [2] - The Series B Warrants included a cashless exercise provision, resulting in an increase to approximately 232,919,249 shares [2] - Following the exercise of the Series B Warrants, Cyngn has 262,773,516 shares of common stock outstanding [2] Company Overview - Cyngn develops scalable autonomous vehicle technology aimed at industrial organizations, addressing challenges such as labor shortages and safety incidents [3] - The company's DriveMod Kit allows for the installation of self-driving technology on existing industrial vehicles, facilitating adoption without significant upfront costs [4] - Cyngn's flagship product, the Enterprise Autonomy Suite, includes DriveMod, Cyngn Insight, and Cyngn Evolve, which leverage data for AI and modeling [5]