Connect with us

Technology

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

Published

on

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 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-inc-announces-closing-of-9-0-million-registered-direct-offering-priced-at-the-market-under-nasdaq-rules-302340672.html

SOURCE Cyngn

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

HOUSING WORKS CHOSEN AS 2026 BENEFICIARY OF 45TH ANNUAL FRONT RUNNERS NEW YORK LGBTQ+ PRIDE RUN™ 4M

Published

on

By

JUNE 27 RACE IN CENTRAL PARK WILL RAISE FUNDS FOR HOUSING WORKS’ LIFESAVING SERVICES + ADVOCACY

NEW YORK, April 22, 2026 /PRNewswire/ — Housing Works is proud to announce that it was selected as the beneficiary of the 2026 Front Runners New York LGBTQ+ Pride Run™ 4M hosted by the Front Runners New York and nonprofit New York Road Runners. The iconic 4-mile running event, which kicks off Pride Weekend in NYC, will be held on June 27, 2026, in Central Park.

Since its inception in 1982, the Pride Run has raised more than $300,000 for LGBTQ+ nonprofits as the world’s largest pride charity run. Housing Works was chosen as this year’s beneficiary in recognition of its 35-year history of providing lifesaving healthcare, housing, and justice initiatives for vulnerable New Yorkers. To support this partnership, Housing Works will have a team of over 20 board members, staff, and clients participating in the race under this year’s theme: “Hearts in Motion: United in Every Stride.”

Although the race is sold out, charity bibs are still available. Runners can apply to raise $500 in support of the 2026 Front Runners New York LGBTQ+ Pride Run™4M beneficiary through Front Runners New York and receive a non-complimentary entry to the race.

“We deeply appreciate Front Runners New York in helping us with our fundraising efforts. In the early days, our evidence-based advocacy often met political resistance, making traditional donors hesitant to support our life-saving HIV/AIDS work. Nearly 40 years into the AIDS epidemic, we continue to face budget cuts and limited capital as government administrations shift,” said Matthew Bernardo, President of Housing Works, Inc. “However, the urgency of this fight drives us to innovate. Housing Works is proof that nonprofits can create real, measurable impact for those who need it most.”

“The Pride Run has always been a showing of the strength of our community. Supporting Housing Works this year feels especially meaningful at a time when unity is most needed. Together, every step adds to our shared momentum to support the incredible, lifesaving work that Housing Works provides to our community,” said J Solle, 2026 Front Runners New York LGBTQ+ Pride Run™4M Director.

“When this race began 45 years ago, many of our members faced risks just by signing up to run openly. Today, standing with thousands of runners who sold out this event in hours, we see how far we’ve come,” said Ryan Hallett, President of Front Runners New York. “But progress requires constant action. By partnering with Housing Works, we are honoring our history of activism and ensuring that our strides in Central Park support lifesaving housing and healthcare for the most vulnerable members of our community.”

“For more than 40 years, New York Road Runners has teamed up with Front Runners New York to host the LGBTQ+ Pride Run in celebration of this incredible community,” said Rob Simmelkjaer, New York Road Runners CEO. “Now a marquee event during Pride weekend in New York City, we’re excited to unite the running community once again and help raise awareness and funds for Housing Works’s critical work.”

What: The 2026 LGBTQ+ Pride Run

When: Saturday, June 27, 2026
            Race Start | 8AM

Where: Central Park

Website: https://frny.org/pride-run

For more information about Housing Works, visit housingworks.org. Follow Housing Works on Facebook and Instagram

About Housing Works:
For more than three decades, Housing Works has been at the forefront of the movement to end AIDS and homelessness and fight for the rights and dignity of some of the most marginalized populations. Housing Works was founded in 1990 as the housing committee of ACT UP and is now a leading provider of housing and lifesaving services to low-income individuals affected by HIV/AIDS and other chronic illnesses, including LGBTQ+ youth, the transgender community, immigrants, people experiencing substance use, and formerly incarcerated New Yorkers. Housing Works’ integrated healthcare, supportive housing portfolio, wraparound services, and relentless advocacy are supported by innovative social enterprise: nine Thrift Shops throughout Manhattan and Brooklyn, its iconic Bookstore & Cafe in Soho, and most recently, New York’s first adult-use dispensary. In the year ahead, amid challenging headwinds from the federal government, Housing Works continues to expand its services and fight for what is right for those who need our help the most, bridging communities in building a more compassionate and equitable world.

About Front Runners New York:
Front Runners New York (FRNY) is New York City’s LGBTQ+ running club. The club was founded in 1979 and has grown to over 1100 members annually. FRNY’s mission is to provide encouragement and support to LGBTQ+ adults and their supporters who are interested in running and running-related activities. FRNY has created a social running community focused on health and fitness that is welcoming to all New Yorkers. FRNY offers a robust, inclusive membership experience. FRNY is a 501(c)(3) non-profit organization incorporated in the state of New York. For more information, visit frny.org.

About New York Road Runners (NYRR):
A New York City-based nonprofit, New York Road Runners’ vision is to build healthier lives and stronger communities through the transformative power of running—serving more than half a million people annually through its races, free community events, youth running initiatives, and school-based programs across the five boroughs. During its nearly 70 years, New York Road Runners has grown from a local running club to the world’s premier community running organization, producing more than 60 adult and youth races each year, including the TCS New York City Marathon. Held the first Sunday each November, the TCS New York City Marathon features more than 50,000 runners—from the world’s best professional athletes to a vast range of runners across experience levels, ages, genders, abilities, and backgrounds. To learn more, visit www.nyrr.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/housing-works-chosen-as-2026-beneficiary-of-45th-annual-front-runners-new-york-lgbtq-pride-run-4m-302749363.html

SOURCE Housing Works

Continue Reading

Technology

City of Bradenton Launches Accela ePermitHub Digital Plan Room, Advancing Integrated Digital Plan Review

Published

on

By

SAN RAMON, Calif., April 22, 2026 /PRNewswire/ — The City of Bradenton, FL has launched the Accela® ePermitHub Digital Plan Room™, marking an important milestone in the City’s ongoing efforts to modernize plan review and streamline the permitting process for both staff and applicants.

This launch represents a significant shift for Bradenton, which previously relied on a plan review approach that required staff to navigate multiple systems and complete several manual steps to accomplish a single task. With Accela’s ePermitHub Digital Plan Room, the City now benefits from a fully integrated digital plan review experience, bringing plan review directly into Accela and simplifying workflows for both staff and applicants.

“After our previous experience, we were looking for a solution that truly worked with our permitting system—not alongside it,” said Dana Winters, Building Manager for the City of Bradenton. “With Accela’s ePermitHub, plan review is part of the same system our teams already use every day. It reduces extra steps, eliminates duplicate work, and makes the process much easier for staff to understand and manage.”

Under the City’s prior setup, staff often had to move between systems, log in separately, and repeat actions to keep plan review and permitting records aligned. Accela’s ePermitHub replaces that fragmented experience with a single, streamlined workflow—automating previously manual steps and improving reliability across the review process.

Bradenton serves a population of approximately 58,000 residents and is an active permitting jurisdiction across building and planning disciplines. The transition to ePermitHub was also well received by applicants, who benefit from a simpler, more consistent submission and review experience.

“This launch reflects the progress agencies are making toward more connected, end‑to‑end digital permitting,” said Maykel Martin, Vice President, Technology Product Management, Accela. “By adopting a plan review solution that is native to Accela, Bradenton is improving efficiency for staff while delivering a more consistent experience for applicants.”

The City’s project team was led by Theresa Armstrong (IT), Dana Winters (Building) and Jamie Schindewolf (Planning), who partnered closely with Accela throughout the implementation, bringing a shared focus on delivering the best outcomes for their customers and achieving a smooth, successful deployment.

For media inquiries, please contact:
Media@accela.com

About Accela®

Accela® is a leading provider of cloud-based software solutions, empowering local and state governments to drive efficiency and modernization. Accela offers both a configurable platform and out-of-the-box civic applications for core processes including permitting, licensing, and code enforcement. Accela assists agencies in streamlining workflows, reducing manual tasks, and improving service delivery. With a commitment to end-to-end support, Accela is a trusted partner to over 600 agencies and jurisdictions worldwide. For more information, please visit www.accela.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/city-of-bradenton-launches-accela-epermithub-digital-plan-room-advancing-integrated-digital-plan-review-302749920.html

SOURCE Accela

Continue Reading

Technology

Axonic Insurance Annuities, Built for Banks, Broker-Dealers and RIAs, Now Available through WealthVest.

Published

on

By

Financial professionals can now secure a competitive 3-year fixed annuity rate and crediting strategies from Deutsche Bank, S&P Global, and Nasdaq through their WealthVest wholesaler and Axonic Insurance.

BOZEMAN, Mont., April 22, 2026 /PRNewswire-PRWeb/ — WealthVest, a leading wholesaler of annuities to financial professionals, has announced a strategic distribution partnership today with Axonic Insurance (AXI), a global annuity and insurance platform. WealthVest will begin offering a suite of curated, highly competitive annuity products from Axonic Insurance to their network of banks, credit unions, broker-dealers and registered investment advisers across the United States.

“We’re excited to align with a team that shares our commitment to delivering differentiated solutions and supporting financial professionals with the tools and opportunities they need to better serve their clients,” said Les Sutherland, Chief Distribution Officer at Axonic Insurance.

“We’re excited to bring the Axonic Insurance suite of solutions to the marketplace,” said Matt Hamann, National Sales Manager at WealthVest. “By combining the strength of our distribution team with AXI’s competitive offerings, we’re well positioned to drive growth and expand access across banks, broker-dealers, and RIAs. Through our education-first approach, we’re committed to supporting financial professionals with practical solutions that help their clients navigate retirement with confidence.”

Through the partnership, Axonic Insurance aims to better support financial advisors and investment adviser representatives in building a solid foundation of protection and growth for their clients’ retirement. WealthVest will align their well-regarded, client-first coaching and wholesaling model with Axonic Insurance’s highly competitive annuities to help financial professionals stay up to date on market trends and determine the best annuity to address their clients’ retirement needs.

“Partnering with WealthVest marks an important step forward in expanding AXI’s reach across the bank, broker-dealer, and RIA channels,” said Les Sutherland, Chief Distribution Officer at Axonic Insurance. “We’re excited to align with a team that shares our commitment to delivering differentiated solutions and supporting financial professionals with the tools and opportunities they need to better serve their clients.”

The suite of annuities is designed specifically for advisors and IARs to help them deliver competitive guaranteed rates of return across 2-, 3-, 5-, 7- and 10-year surrender period options; strong marketing participation; 100% principal protection and systematic income withdrawals to their clients. The annuities are available in forty-three states and the District of Columbia, and include the:

Incline MYGA: Featuring 5.25% Guaranteed for 3-Years with Initial Premiums of $100,000 or Greater1HighLine FIA: Offering 1- and 2-year point-to-point cap, participation, and fixed rate crediting strategiesHighLine FIA PLUS: Includes a 9% Premium Bonus Rider on the 5-Year2

WealthVest’s team of dedicated wholesalers and annuity case managers will serve as the main point of contact for financial advisors and IARs interested in Axonic Insurance’s annuities across 5 US regions. The team has partnered with thousands of advisors, providing annuity planning technology, retirement income planning, practice management, market and industry trends and annuity case management.

Launched in 2024, Axonic Insurance is an annuity and insurance platform delivering institutionally managed retirement products through a fully integrated model spanning product design, distribution, issuance, and servicing. Axonic Insurance is supported by Axonic Capital, an investment management firm with $8 billion in assets under management specializing in structured credit and commercial and residential real estate debt and equity. Axonic Insurance’s suite of annuities is issued by AmFirst Insurance Company (“AmFirst”), an A- (Excellent) financial strength rated company by AM Best3.

Advisors and IARs interested in learning more about Axonic Insurance and their suite of annuities can connect with their wholesaler at www.wealthvest.com/axonic-insurance or call the WealthVest Sales Desk at 1-833-299-8750.

1 Rate shown is effective March 27, 2026 and subject to change. Rate only applies to the Incline MYGA 3-year plan with initial premiums of $100,000 or greater, issued by AmFirst Insurance Company (“AmFirst”) and offered by Axonic Insurance Services LLC (“Axonic”). Additional rates available.

2 At the time of issuance, the Premium Bonus is credited to your Account Value, providing immediate access to additional funds to allocate into the various crediting strategies. The Premium Bonus is calculated as a percentage of the initial premium and becomes a permanent component of the annuity’s Accumulation Value. All Premium Bonuses are subject to a Vesting Schedule, under which the Contract Value and the Cash Surrender Value increase annually as the bonus amount vests over time. Please refer to the HighLine FIA Rate Sheet for Premium Bonus amounts and Contract details.

3 AM Best affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “A-” (Excellent) of AmFirst Insurance Company on August 29, 2025.

ABOUT WEALTHVEST

WealthVest is a leading wholesaler of fixed, fixed-indexed, and registered index-linked annuities to financial professionals. We’re a partner to thousands of advisors by providing annuity planning technology, retirement income planning, practice management, market and industry trends and annuity case management. Their team of dedicated wholesalers and annuity case managers helps advisors provide the best annuity outcomes. Follow us on Facebook and LinkedIn or visit wealthvest.com.

ABOUT AXONIC INSURANCE

Axonic Insurance (AXI) is a fast-growing annuity and insurance platform delivering institutionally managed retirement products through a fully integrated model spanning product design, distribution, issuance, and servicing. AXI combines modern insurance capabilities with disciplined asset management and rigorous risk oversight to drive scalable, sustainable growth. AXI’s suite of annuities includes Multi-Year Guaranteed Annuities (MYGAs) and Fixed Indexed Annuities (FIAs), distributed through IMOs, Banks, Broker-Dealers, and Registered Investment Advisers (RIAs), while strengthening profitability through operational efficiency, pricing discipline, and balance sheet resilience. AXI’s strategy prioritizes durability — balancing growth, capital strength, and earnings to support long-term value creation and financial stability.

ABOUT AXONIC CAPITAL

Founded in 2010, Axonic Capital is a New York-based alternative investment manager with $8 billion in assets under management. The firm has deep expertise in structured credit, commercial and residential real estate debt and equity, and systematic fixed income. Axonic’s flexible capital base includes private limited partnerships, separate accounts, insurance company mandates, and publicly listed fund structures. For additional information, visit axoniccap.com.

ABOUT S&P DOW JONES INDICES

Since 1896, S&P DJI have provided innovative index solutions backed by robust methodologies and strong governance. Today, S&P Dow Jones Indices is the world’s largest provider of financial market indices, offering iconic solutions and unparalleled expertise across asset classes and geographies. With more exchange partnerships and more assets invested in products based on our indices than any other index provider, S&P DJI is a critical link in capital markets and the global financial ecosystem.

ABOUT NASDAQ GLOBAL INDEXES

Nasdaq Global Indexes has been creating innovative, market-leading, transparent indexes since 1971. Today, our index offering spans geographies and asset classes and includes diverse families. We continuously offer new opportunities for financial product sponsors across a wide spectrum of investable products and for asset managers to measure risk and performance. Nasdaq also provides exchange listing, custom index, and design solutions to financial organizations worldwide. 

ABOUT DEUTSCHE BANK

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network. Deutsche Bank’s FIG Structuring & Solutions business structures and arranges bespoke capital and financing transactions for its global FIG client base.

Media Contact

Jackson Bolstad, WealthVest, 1 406-272-3759, jbolstad@wealthvest.com, www.wealthvest.com

Les Sutherland, Axonic Insurance, lsutherland@axonicinsurance.com, https://axonicinsurance.com/

Twitter, Facebook, LinkedIn

View original content:https://www.prweb.com/releases/axonic-insurance-annuities-built-for-banks-broker-dealers-and-rias-now-available-through-wealthvest-302750101.html

SOURCE WealthVest

Continue Reading

Trending