Cyngn Inc (CYN) Prices 6.45M Share Offering at $3.10/sh
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Cyngn Announces Pricing of $20 Million Private Placement Priced At-the-Market
April 28, 2022 9:15 AM EDTMENLO PARK, Calif.--(BUSINESS WIRE)-- Cyngn (or the "Company") (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced that it entered into a securities purchase agreement with certain institutional and accredited investors for aggregate gross proceeds of $20 million, before deducting fees to the placement agent and other offering expenses payable by the Company.
In connection with the offering, the Company will issue 6,451,613 units and pre-funded units at a purchase price of $3.10 per unit, priced at-the-market under Nasdaq rules. Each unit and... More
