#United States #Mountain View #Common Stock #Cyngn Inc. #Direct Offering

Cyngn Inc. Completes $9.65 Million Registered Direct Offering

On March 17, 2026, Cyngn Inc. (NASDAQ: CYN) announced the successful closing of its registered direct offering, which raised approximately $9.65 million through the sale of common stock and pre-funded warrants. This offering was priced attractively at $1.93 per share, conforming to the market price as stipulated under Nasdaq rules.

A significant portion of this offering was acquired by a single institutional investor, which took over 90% of the offering volume, showcasing the confidence investors have in Cyngn's growth trajectory. Additionally, a high-net-worth individual purchased the remaining shares, further emphasizing the attractiveness of this investment opportunity.

The offering involved the sale of 5 million shares of common stock, alongside pre-funded warrants, which allow immediate exercise and can be used at any time until fully exercised. The pricing for the pre-funded warrants slightly differed at $1.92999, reflecting an almost negligible exercise fee of $0.00001 each.

Upon closure of the transaction, Cyngn now has 16,896,493 shares of common stock outstanding, including those from the pre-funded warrants, demonstrating a solid capital base for its operations going forward.

Cyngn plans to allocate the net proceeds from this offering toward general corporate purposes and to enhance its working capital, which will enable the company to focus more on advancing its autonomous vehicle technologies. These technologies are particularly tailored to meet the needs of industrial companies, which face increasing challenges like labor shortages and safety-related expenses.

The registered direct offering was executed under an effective shelf registration statement on Form S-3 that Cyngn filed with the U.S. Securities and Exchange Commission (SEC). This follows the SEC's approval of the registration on September 18, 2025. Interested parties can view the terms and details of the offering via SEC filings, ensuring transparency and compliance with regulatory standards.

Aegis Capital Corp. served as the exclusive placement agent for the offering, while Kaufman Canoles, P.C. and Greenberg Traurig, P.A. provided legal support for both the company and the placement agent respectively.

About Cyngn

Cyngn is at the forefront of developing and deploying state-of-the-art autonomous vehicle technology tailored for industrial applications. Their solutions are designed to significantly reduce the operational challenges faced by manufacturers and logistics companies, particularly in an era where labor availability is a growing concern.

The company prides itself on its innovative DriveMod technology, which facilitates the integration of self-driving capabilities into existing operations. This eases the transition without substantial upfront investments in new infrastructure. Specifically, DriveMod is currently functioning on vehicles such as the Motrec MT-160 Tuggers and BYD Forklifts.

The DriveMod Tugger has a substantial hauling capability of up to 12,000 pounds and can operate in both indoor and outdoor settings, targeting an impressive payback period of less than two years. Meanwhile, the DriveMod Forklift is equipped to handle heavy loads with non-standard pallets, making it a versatile option for select customers.

Contact Information

For investor inquiries, contact: Natalie Russell, CFO at [email protected]
For media inquiries, reach out to: Luke Renner, Head of Marketing at [email protected]

To find more about Cyngn's offerings and updates, visit their official website and social media platforms.

• - Website: Cyngn
• - Twitter: Cyngn Twitter
• - LinkedIn: Cyngn LinkedIn
• - YouTube: Cyngn YouTube

This successful direct offering positions Cyngn Inc. favorably for future endeavors as it continues to innovate within the autonomous vehicle sector, shaping the future of industrial operations worldwide.