---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-096917"
form_type: "8-K"
ticker: "CYN"
cik: "0001874097"
company_name: "Cyngn Inc."
filed_at: "2024-11-12T23:59:59+00:00"
generated_at: "2026-05-30T02:16:24.659846+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cyngn raises $3.5M via 20% OID notes and 405K shares; cuts staff 25% to conserve cash

## Summary
- Issued $4.375M principal in senior notes at 20% original issue discount; gross proceeds $3.5M.
- Issued 405,125 common shares to note purchasers; notes mature in 90 days or upon subsequent qualifying financing.
- Cost reduction plan: reduce staff from ~80 to ~60, cut monthly cash burn from $1.8M to ~$1M for 90 days.
- Company states it 'will need to raise additional capital imminently'; signed non-binding engagement with Aegis Capital.
- Proceeds used for working capital; $1M held in escrow, released upon filing/effectiveness of resale registration.

## SEC filing metadata
- accession: 0001213900-24-096917
- form_type: 8-K
- ticker: CYN
- cik: 0001874097
- company_name: Cyngn Inc.
- filed_at: 2024-11-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/0001213900-24-096917-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea0220845-8k_cyngn.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-096917
- JSON: https://secwatch.observer/filing/0001213900-24-096917.json
- Plain text: https://secwatch.observer/filing/0001213900-24-096917.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.