Cyngn’s $26.3 Million Initial Public Offering

Sichenzia Ross Ference represented Cyngn in the transaction.

Cyngn, Inc., (NASDAQ: CYN) executed its initial public offering.  The offering consisted of 3,500,000 shares of its common stock at a public offering price of $7.50 per share, for gross proceeds of $26,300,000.  Previous shareholders of CYN include Benchmark Capital, Andreessen Horowitz and Qualcomm Ventures.

The Company has granted the underwriters a 45-day option to purchase up to an additional 525,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

Cyngn is a venture capital backed developer of innovative autonomous driving software solutions for industrial and commercial enterprises.

The Sichenzia Ross Ference team was led by partners Gregory Sichenzia (Picture), Marcelle Balcombe, and Jeff Cahlon, and associate Zach Weiss.

Involved fees earner: Marcelle Balcombe – Sichenzia Ross Ference; Jeff Cahlon – Sichenzia Ross Ference; Gregory Sichenzia – Sichenzia Ross Ference; Zachary Weiss – Sichenzia Ross Ference;

Law Firms: Sichenzia Ross Ference;

Clients: Cyngn;