Cyngn Inc. (CYN) announced that it has entered into definitive agreements in a registered direct offering with a single institutional investor for the purchase and sale of approximately $17.2 million of shares of Common Stock.
Aggregate gross proceeds to Cyngn Inc. (CYN) are expected to be approximately $17.2 million.
The transaction is expected to close on or about June 30, 2025.
Cyngn Inc. (CYN) expects to use the net proceeds from the offering for general corporate purposes and working capital.
