Cyngn Stock Plunges 7.99% Post $17.2M Offering

On July 1, 2025, Cyngn's stock experienced a significant drop of 7.99% in pre-market trading, marking a notable decline in its share price.

Cyngn Inc. recently closed a $17.2 million registered direct offering, raising funds through the sale of 2,293,333 shares of common stock and pre-funded warrants. This transaction, which closed on June 30, 2025, was facilitated by Aegis Capital Corp. The company plans to use the net proceeds for general corporate purposes and working capital.

In addition to the recent funding, Cyngn has been actively expanding its technological capabilities. The company showcased its next-generation robotics, automation, and AI technologies at the Automatica 2025 event in collaboration with NVIDIA. Cyngn's autonomous industrial vehicles, powered by its proprietary DriveMod software and NVIDIA's Isaac robotics platform, are already operational in commercial settings, focusing on reducing labor costs, increasing throughput, and enhancing safety.

Cyngn has also launched a Dealer Portal to support the expansion of its dealer network. This online resource hub provides dealers with comprehensive access to sales materials, pricing information, and co-marketing resources, aiming to streamline the sales process of DriveMod Tuggers and accelerate technology adoption.

Furthermore, Cyngn received a notice of allowance for its 23rd U.S. patent, titled "Modular Sensor System For Automated Guided Vehicles." This patent introduces a modular sensor system that can be integrated with existing industrial machines with minimal modifications, reinforcing Cyngn's position in autonomous vehicle technology innovation.