secwatch.observer — SEC 8-K summary
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Issuer:     Cyngn Inc. (CYN)
CIK:        0001874097
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001213900-24-111988
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyngn closes $20M follow-on offering; net proceeds ~$18.2M for working capital and debt repayment
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- Gross proceeds ~$20M from 12.4M units (shares/pre-funded warrants + Series A/B warrants) at $1.61 per unit.
- Net proceeds ~$18.2M after placement agent fees and offering expenses.
- Series A warrants exercisable at $2.0125 upon stockholder approval, 5-year term; Series B warrants 2.5-year term.
- Proceeds to be used for working capital, general corporate purposes, and repayment of outstanding senior notes.
- Offering closed December 23, 2024; Aegis Capital Corp. acted as placement agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1874097/000121390024111988/0001213900-24-111988-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1874097/000121390024111988/ea0225677-8k_cyngn.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-111988

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