Cyngn Announces Closing of $5.0 Million Firm Commitment Public Offering of Common Stock

MENLO PARK, Calif., April 25, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the closing of its public offering made on a firm commitment basis with gross proceeds to the Company of $5.0 million, before deducting fees and other expenses payable by the Company. The offering consisted of 50,000,000 shares of common stock and pre-funded warrants. Each share of common stock (or ...