Cyngn Inc. 8-K

What Happened
Cyngn Inc. announced it closed a registered direct offering on March 17, 2026, raising approximately $8.8 million in net proceeds. The company sold 1,686,788 shares of common stock at $1.93 per share and 3,313,212 pre‑funded warrants at $1.92999 each. The offering was made under the company’s Form S‑3 registration statement (File No. 333-290079) and a prospectus supplement dated March 16, 2026. The company issued press releases on March 16 and March 17, 2026 announcing the pricing and closing.

Key Details

• Shares sold: 1,686,788 common shares at $1.93 per share.
• Pre‑funded warrants sold: 3,313,212 at $1.92999 each (warrants are exercisable into common stock).
• Net proceeds: Approximately $8.8 million after estimated offering expenses and placement agent fees.
• Placement agent & fee: Aegis Capital Corp. served as exclusive placement agent; company paid a 7% cash fee of gross proceeds and reimbursed certain expenses.
• Post‑offering shares outstanding: 16,896,493 shares immediately after issuance and full exercise of the pre‑funded warrants.

Why It Matters
This financing provides Cyngn with additional cash for general corporate purposes, including working capital, which can help support ongoing operations and near‑term plans. Investors should note the issuance of pre‑funded warrants and the increase in outstanding shares (post‑exercise) that will affect share count and potential dilution. The 7% placement fee and related expenses reduced the net proceeds available to the company. Press releases and the offering documents are attached as exhibits to the 8‑K for more detail.