Cyngn Inc. Form 8-K Filing

Cyngn Inc. announced on March 16, 2026, that it entered into a securities purchase agreement for a registered direct offering. The company agreed to sell 1,686,788 shares of its common stock at $1.93 per share and 3,313,212 pre-funded warrants at $1.92999 per warrant. The offering, made under a Form S-3 registration statement, closed on March 17, 2026. Cyngn Inc. raised approximately $8.8 million in net proceeds, which will be used for general corporate purposes, including working capital. Aegis Capital Corp. acted as the exclusive placement agent, receiving a 7% fee and reimbursement for certain expenses. Following the offering, the company will have 16,896,493 shares of common stock outstanding, assuming full exercise of the pre-funded warrants.