Cyngn Announces Pricing of $5.0 Million Public Offering of Common Stock – Cyngn Investors
Summary
, /PRNewswire/ -- (the "Company" or " ") (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the pricing of its common stock public offering made on a reasonable best-efforts basis with gross proceeds of approximately , before deducting placement agent fees and other expenses payable by the Company. A final prospectus describing the terms of the proposed transaction may be obtained, when available, on the website, www.sec.gov or by contacting , , 27th Floor, 10105, by telephone at (212) 813-1010 or by email at syndicate@aegiscap.com. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables to leverage data from the field for artificial intelligence, simulation, and modeling).This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Forward-looking statements are not historical facts, and are based upon managements current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. However, there can be no assurance that managements expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements.