Cyngn prices $5M public offering of 50M shares/pre-funded warrants at $0.10 per share

Cyngn Inc.

Gross proceeds ~$5M from 50M shares and pre-funded warrants at $0.10/share (or $0.099999 per warrant).
Pre-funded warrants exercisable at $0.00001/share; Aegis gets 45-day over-allotment option up to 15%.
Offering expected to close April 25, 2024; net proceeds for working capital and general corporate purposes.
Underwriter Aegis receives 7% cash fee of gross proceeds plus $75,000 for accountable expenses.
30-day lock-up restrictions on company and insiders for issuance and sales of securities.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cyngn Inc. entered into Underwriting Agreement with Aegis Capital Corp. valued at $5 million (effective 2024-04-23).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: $5 million
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, Cyngn Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (the “Underwriter”), in connection with a firm commitment underwritten public offering

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306 material agreements filed in the last 30 days. Browse all material agreements →

Cyngn Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-035867

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