Cyngn Shares Jump as $20 Million Offering Closes

MT Newswires Live

2024/12/24

Cyngn (CYN) shares were up by nearly 44% in midday trading on Monday after the company said it has closed a $20 million offering of common units.

The company, a developer of autonomous vehicle technology, said it sold 12.4 million common units at a price of $1.61 per unit.

Cyngn said it will use the funds for general corporate purposes and working capital.

Price: 0.67, Change: +0.20, Percent Change: +43.06

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