secwatch.observer — SEC 8-K summary
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Issuer:     Cyngn Inc. (CYN)
CIK:        0001874097
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001213900-24-035867
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1874097/000121390024035867/0001213900-24-035867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1874097/000121390024035867/ea0204584-8k_cyngninc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-035867

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