Cyngn raises $9.0M in registered direct offering of 15M shares/pre-funded warrants at $0.60/share

Cyngn Inc.

Closed registered direct offering on Dec 31, 2024; gross proceeds $9.0M, net ~$8.1M after expenses.
Issued 6.65M common shares and 8.35M pre-funded warrants (exercise price $0.0001) at $0.60/$0.5999 each.
Net proceeds to be used for general corporate purposes and working capital.
Aegis Capital Corp. served as exclusive placement agent; 8% cash fee on gross proceeds.
Post-offering shares outstanding: 27,404,186 (includes shares from pre-funded warrant exercises).

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