Cyngn Inc. (CYN), Friday announced the pricing of a follow-on public offering, comprising of about 12.4 million common units and pre-funded units, at $1.61 per common unit, expected to raise about $20 million.
The company intends to use the proceeds, along with existing cash, for working capital and other general corporate purposes, including repayment of outstanding senior notes.
The offering is set to close on or about December 23.
Currently, Cyngn's stock is trading at $0.40, down 75.07 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.