Cyngn raises $1.3M under ATM sales agreement

Cyngn announced that it has raised $1.3M under its at-the-market sales agreement through sales of its common stock. Since the commencement of the ATM program in July 2023, Cyngn has sold 1.94M shares of common stock at an average price of 66c per share, generating gross proceeds of approximately $1.3M. The proceeds from the ATM sales have been used for general corporate purposes, including investments in its commercial sales.