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Cyngn Inc. Announces Closing of $9.0 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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MENLO PARK, Calif., Dec. 31, 2024 /PRNewswire/ — Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving software solutions for industrial applications, today announced the closing of its previously announced  registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 15,000,000 shares of common stock (or pre-funded warrants in lieu thereof) at a purchase price of $0.60 per share (or $0.5999 for each pre-funded warrant).

The gross proceeds to the Company from the offering were $9.0 million, before deducting placement agent fees and other offering expenses payable by the Company.  The Company intends to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital.

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

The common stock (and pre-funded warrants in lieu thereof) were issued in a registered direct offering 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”), and declared effective by the SEC on June 13, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the proposed registered direct offering was filed with the SEC and is 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

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StarHub Powers Up Its Network with 5G+

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9 minutes ago

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September 1, 2026

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Get more with wider coverage and up to four times faster speeds indoors and underground

SINGAPORE, Sept. 1, 2026 /PRNewswire/ — StarHub has launched 5G+, powered by the deployment of 700MHz spectrum to give customers a strong, more consistent network experience. Available across every StarHub 5G mobile plan, 5G+ gives customers more from their connectivity in the places where they need it most.

From office towers and crowded malls to basements, car parks and live events, some of the places where customers rely most on their network are also where connectivity are most tested. With 700MHz reaching deeper into buildings and harder-to-reach spaces, 5G+ delivers wider coverage and speeds of up to four times faster indoors and underground, helping customers stay connected as they move through their day.

Existing customers on StarHub 5G mobile plans will get 5G+ automatically, while new customers will get it from day one. With 5G+ across every StarHub 5G mobile plan, customers can get more from their network, whichever plan they choose.

For enterprises, 5G+ provides more dependable connectivity for critical teams and operations. With StarHub’s Enterprise Priority Services, organisations can also prioritise network access for key users and workflows when demand is high, helping keep field operations and collaboration tools running when it matters most.

Get More Out of Your Lunchtime at Lau Pa Sat

More coverage, more speed, and now more ice cream. For one day only on 2 September 2026, StarHub is bringing “more” to lunchtime at Lau Pa Sat. From 11.30am to 3pm, diners can enjoy unlimited complimentary ice cream as part of StarHub’s 5G+ launch celebrations. Competitive eater and influencer Zermatt Neo will kick off the fun with a lunchtime eating challenge, livestreamed on TikTok using StarHub’s 5G+ network.

5G+ builds on StarHub’s continued investment in its network and capabilities to give customers a better experience and more from their connectivity, wherever the day takes them.

For more information on StarHub 5G+, visit http://www.starhub.com/5g-plus.

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SOURCE StarHub Ltd

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Hinen at Solar & Storage Live UK 2026: Powering Smarter UK Homes with A15 RESS

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9 minutes ago

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September 1, 2026

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BIRMINGHAM, England, Sept. 1, 2026 /PRNewswire/ — Hinen will exhibit at Solar & Storage Live UK 2026, taking place at the NEC Birmingham from September 22–24, 2026. Visitors can find Hinen at Booth G12B, where the company will showcase its latest energy storage solutions, with the A15 Residential Energy Storage System taking centre stage.

As the UK’s largest solar energy exhibition, Solar & Storage Live UK brings together buyers, installers and industry leaders from across the energy value chain. Hinen will engage with partners and homeowners to explore smarter, more flexible residential energy solutions.

Smarter Energy for Modern UK Homes

As more UK households adopt solar PV, EVs and heat pumps, smart energy storage can help homeowners make better use of renewable energy and reduce reliance on grid electricity.

At the show, Hinen will highlight the A15 RESS, combining an A-series hybrid inverter with the B15 high-voltage battery. The system offers 14.4 kWh of storage per battery, up to 86.4 kWh of total capacity, 8,000+ cycles and an ultra-slim 180 mm design. Its smart energy management capabilities help homeowners optimise when to store and use energy, supporting greater energy independence and flexibility.

Comprehensive Energy Solutions

At the event, Hinen will also showcase a range of solutions tailored to different energy needs:

A Series H6S: 3.6–6kW single-phase all-in-one system for small homes.A Series H25T: 10–25kW three-phase all-in-one system for larger homes and small commercial applications.H6000-EU + B5000D-W: Flexible low-voltage solution for everyday home energy needs.H6000S + B5000D-W: Reliable Low-voltage solution with parallel function.E2400S + E2560B: 2400W balcony energy storage for space-constrained homes.PU1800 & PS3000: Portable power for travel, outdoor use and backup.

Visit Hinen at Booth G12B, NEC Birmingham, September 22–24, 2026, to discover the A15 and Hinen’s latest energy solutions.

About Hinen

Hinen is an energy storage technology company backed by more than 20 years of manufacturing experience from Hinen Group. Listed on the Shenzhen Stock Exchange (stock code: 300787), Hinen develops residential energy storage solutions including battery systems, hybrid inverters and intelligent energy management technologies. With offices and service teams across Europe, the UK, Australia and Africa, Hinen provides localised support to customers and partners worldwide.

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GOFO Deploys Automated Narrow-Belt Sorter at Rome Hub, Lifting Southern Italy Capacity by 40%

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10 minutes ago

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September 1, 2026

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ROME, Sept. 1, 2026 /PRNewswire/ — GOFO, a fast-growing, technology-driven last-mile delivery provider, today announced that its Rome sorting center has officially entered full production with a new automated narrow-belt sorting system featuring integrated singulation technology. The system began trial operation in May 2026 and, following more than three months of stable performance, is now fully operational, lifting the hub’s overall efficiency by 40%.

The linear narrow-belt sorter’s integrated singulation technology automatically separates overlapping parcels before they enter the sort loop. Because the system relies on proven mechanical separation rather than AI-based vision recognition, it is designed to deliver consistent throughput day after day, with reliability confirmed during the trial period and now carried into full production ahead of the autumn peak season.

The system has a design capacity of 6,500 parcels per hour and 120 sorting chutes, providing routing coverage across southern Italy, including Bari, Catanzaro, Naples and surrounding areas. It integrates dimensioning and weighing in a single pass, with volume accuracy of ±10 mm and weighing accuracy of ±20 g. Around 80% of the sorting process is now automated, with manual handling limited to loading and exception processing.

“The Rome hub is our primary gateway to southern Italy, and this upgrade ensures we can meet the growing demand from our e-commerce partners without compromising on speed or accuracy,” said Jacqueline Chan, General Manager of GOFO Italy. “As we head into peak season, this investment gives us the reliability and sufficient processing capacity our customers need across the south.”

About GOFO

GOFO, founded in the United States in 2023, is a technology-driven last-mile logistics network serving merchants and consumers across the U.S., Canada, France, the Netherlands, Italy and Spain. Guided by the brand philosophy “Drive Efficiency, Deliver Trust,” GOFO combines advanced technology with localized operations to deliver precise, reliable, and scalable delivery solutions. Operating nationwide through sorting centers and delivery centers across the country, GOFO Italy serves a broad population with high-performance last-mile delivery solutions. Its operations are powered by automated sorting, intelligent routing, and disciplined execution. For more information, please visit www.gofo.com/it.

Media Contact:

Email: branding.eu@gofo.com

Website: www.gofo.com/it

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