Cyngn Inc. Completes $15 Million Registered Direct Offering to Expand Operations

Cyngn Inc. Completes $15 Million Registered Direct Offering

Cyngn Inc. (NASDAQ: CYN), a leader in autonomous vehicle technology, has announced the completion of a registered direct offering with a prominent institutional investor, raising approximately $15 million. This financial milestone, finalized on June 27, 2025, involves the sale of 2,994,012 shares of Common Stock at an offering price of $5.01 per share, allowing Cyngn to further its innovative initiatives within the industrial sector.

The offering structure includes pre-funded warrants, which are immediately exercisable. This structure permits investors to convert their warrants into shares, showcasing Cyngn's commitment to investor flexibility while ensuring robust funding for operational growth. The financial gain is intended to bolster the company’s general corporate purposes and enhance its working capital, fostering further advancements in its industry-leading products and services.

The DriveMod technology developed by Cyngn plays a vital role in transforming industrial operations through automation. By facilitating the integration of autonomous solutions without hefty upfront investments, Cyngn addresses prevalent challenges such as labor shortages and workplace incidents. Companies utilizing DriveMod technology benefit significantly from increased efficiency and reduced costs, thereby enhancing their operational capabilities.

Currently, DriveMod is available on Motrec MT-160 Tuggers and BYD Forklifts, delivering substantial operational advantages. The DriveMod system is capable of hauling loads up to 12,000 lbs, designed for both indoor and outdoor environments, with a targeted payback period of less than two years. This technology allows businesses to adapt and thrive amidst operational challenges and economic pressures, making Cyngn a front-runner in the autonomous vehicle sector.

The recent financial maneuver, executed by Aegis Capital Corp. as the exclusive placement agent, represents a strategic step for Cyngn, aligning with its goal to scale up operations effectively. The terms of this offering stem from a previously filed shelf registration statement with the U.S. Securities and Exchange Commission (SEC), which allows the company to transparently raise funds as required by the evolving market conditions.

Cyngn continues to innovate by investing in technology that streamlines industrial processes and enhances operational safety. The advancements made through the funds raised from this offering will undoubtedly support further research and development, focusing on the deployment of self-driving technology tailored for various industrial tasks.

Interested investors and parties can access the final prospectus and supplementary documents detailing the offering on the SEC's website. This proactive approach towards investor communication underpins Cyngn’s commitment to transparency and corporate governance.

As the autonomous vehicle industry accelerates, Cyngn is paving the way for innovative solutions that meet the needs of modern industrial clients. The company’s proactive strategies position it for future growth and sustainability, aligning with the ever-evolving landscape of technology and automation.

For further inquiries, interested parties are encouraged to contact Natalie Russell, Interim CFO for Cyngn, or Luke Renner, Head of Marketing. Cyngn is also active on various social media platforms, offering updates and information to stakeholders and the public.

With technological advancements and a focus on customer needs, Cyngn Inc. stands poised for continued success as it navigates the future of autonomous vehicle integration in the industrial sector.