Cyngn Announces Exercise and Closing of Underwriter's Over-Allotment Option

MENLO PARK, Calif., May 3, 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 underwriter of its previously announced firm commitment public offering has exercised its over-allotment option to purchase an additional 2,040,000 shares of common stock at a price of $0.10 per share. Total gross proceeds to the Company from the offering, including funds received from the prior c ...