Technology

Cyngn Inc. Announces Pricing of $9.0 Million Registered Direct Offering Priced At-The-Market

Published

1 year ago

December 30, 2024

MENLO PARK, Calif., Dec. 30, 2024 /PRNewswire/ — Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced that it has entered into definitive agreements in a registered direct offering with certain institutional investors for the purchase and sale of 15,000,000 shares of common stock and/or pre-funded warrants to acquire common stock in a registered direct offering. The purchase price of each share is $0.60 (or $0.5999 for each pre-funded warrant, which is equal to the public offering price per share to be sold in the offering minus an exercise price of $0.0001 per pre-funded warrant).

Aggregate gross proceeds to the Company are expected to be approximately $9.0 million. The transaction is expected to close on or about December 31, 2024 subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.

Aegis Capital Corp. is acting as Exclusive Placement Agent for the offering. Sichenzia Ross Ference Carmel LLP is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.

The registered direct offering is being made pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-271567), previously filed with the United States Securities and Exchange Commission (the “SEC”), which was declared effective by the SEC on June 13, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov/edgar. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at +1 (212) 813-1010.

Interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).

Forward-Looking Statements

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Investor Contact:
Donald Alvarez, CFO
investors@cyngn.com

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com

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SOURCE Cyngn

Technology

CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

Published

41 minutes ago

April 18, 2026

Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

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SOURCE CAS Holdings, Inc.

Technology

Vipboss Marks Earth Day with Renewed Commitment to Green Energy Solutions

Published

2 hours ago

April 18, 2026

NEW YORK, April 18, 2026 /PRNewswire/ — As Earth Day draws global attention to environmental responsibility, Vipboss, a specialist manufacturer and developer of lithium iron phosphate (LiFePO4) battery packs for energy storage and mobility applications, is underscoring its long‑term commitment to sustainable energy practices through its Environmental Advocacy. This advocacy is devoid of ornate language; its inspiration stems from the brand’s unwavering conviction in LiFePO4 batteries as a green energy solution. To align this message with practical action, the brand is also running a themed sales campaign on its official website during April 18th to 30th. It highlights how practical product solutions, rather than abstract concepts, can support cleaner energy use in everyday life.

Across the world, energy consumption patterns are undergoing rapid change. Households, outdoor users, and light‑mobility sectors are increasingly seeking energy systems that are safe, sustainable, and low‑emission. Within this shift, LiFePO4 batteries have emerged as a preferred technology for clean‑energy applications. Their long service life, high safety profile, and absence of cobalt, which is an element associated with higher environmental and ethical risks, position them as a responsible choice in the global transition toward greener power.

LiFePO4 technology forms the foundation of Vipboss’s approach to sustainable energy. Its extended cycle life reduces the frequency of battery replacement, lowering resource consumption and easing the environmental burden associated with disposal. The material’s inherent stability also minimizes the risk of thermal runaway, offering a safer experience in homes, recreational vehicles, and public environments. In practical use cases such as home backup systems, RV travel, and golf‑course operations, LiFePO4 batteries deliver efficient storage and stable output, helping reduce reliance on fossil‑fuel‑based energy sources and supporting lower‑carbon lifestyles.

Vipboss’s environmental advocacy extends beyond the technical advantages of its products. The brand promotes responsible energy use as an integral part of sustainable living, emphasizing that product design and informed application must work together to achieve meaningful environmental outcomes. As a provider of energy solutions for home, travel, and leisure scenarios, Vipboss continues to participate in the long‑term process of green transformation through ongoing technological refinement and product evolution.

Earth Day serves as a reminder that lasting environmental impact is built through small, consistent actions. Looking ahead, Vipboss will continue advancing safer, more durable, and more efficient energy products that support individuals and families in adopting more sustainable energy habits. Through these efforts, the brand aims to contribute enduring value to the wider adoption of clean energy and the collective pursuit of a more sustainable future.

About Vipboss

Vipboss is a specialist in the lithium battery industry, focusing on the research, production, and manufacturing of lithium iron phosphate (LiFePO4) battery packs. The company is committed to advancing battery technology with an emphasis on reliable performance, safety, and extended service life. Its mission is to deliver safe, efficient, and environmentally responsible energy solutions that contribute to a cleaner, more sustainable future.

For more information, please visit: https://vipbosspower.com/.

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SOURCE Vipboss

Technology

Pastor Dino Rizzo Marks 100 Days to Serve Day Ahead of Global Outreach Initiative

Published

3 hours ago

April 18, 2026

Pastor Dino Rizzo highlighted the milestone of 100 days until Serve Day 2026, as thousands of churches prepare to serve their communities through coordinated acts of kindness on July 11.

BIRMINGHAM, Ala., April 18, 2026 /PRNewswire/ — Pastor Dino Rizzo joined church leaders and teams on April 2 to mark 100 days until Serve Day 2026, a global outreach initiative set for July 11. The milestone brings together more than 2,900 churches preparing to serve their local communities through practical acts of kindness and outreach.

Serve Day, led by many churches within the Association of Related Churches, provides a coordinated opportunity for churches worldwide to engage their cities and demonstrate their faith through service. Pastor Dino Rizzo, who serves as Executive Director of ARC, emphasized the significance of the initiative as both a single-day event and a broader movement.

“Serve Day provides churches across the world with opportunities to serve their local communities and share the love of God through practical acts of kindness,” Rizzo said. “Our hope is that serving others becomes our focus throughout the year.”

The April 2 milestone reflects growing participation and anticipation among churches globally. Leaders are currently equipping teams, organizing projects, and connecting with local communities in preparation for July. Churches that join the initiative gain access to resources, including the Serve Day playbook, monthly leadership calls, and a private online community designed to support collaboration and planning.

Pastor Dino Rizzo has long championed the role of service within the church through the Servolution movement. Introduced through his 2009 book Servolution: Starting a Church Revolution Through Serving, the concept calls churches to embed serving into their culture rather than limit it to occasional events. The message has since influenced hundreds of churches across multiple countries, including the United States, Peru, New Zealand, and Poland.

“Serving is not just about an event. It is about building a culture where meeting needs and reaching people becomes part of who we are,” Rizzo has shared in previous teachings, reinforcing the long-term vision behind initiatives like Serve Day.

In addition to leading Serve Day, Pastor Dino Rizzo continues his work with ARC, which has planted over 1200 churches and continues to train and equip new church leaders. His involvement in conferences, leadership development, and global outreach initiatives reflects a consistent focus on sustainable church growth and community impact.

Churches interested in participating in Serve Day 2026 can learn more through ARC’s official website and access resources designed to support local outreach efforts.

About Pastor Dino Rizzo

Pastor Dino Rizzo is a pastor, author, and church leader known for his emphasis on service, leadership, and healthy church culture. He serves as Executive Director of the Association of Related Churches, an organization that has helped launch hundreds of churches worldwide. Rizzo is also the author of Servolution, a book that has inspired a global movement centered on serving others as a core expression of faith.

Media Contact
Organization: Mercury News Media
Email: info@mercurynewsmedia.com
Phone: 303 800 6186
Website: https://www.mercurynewsmedia.com/
Contact Name: Jessica Brown

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SOURCE Dino Rizzo