Cyngn says all outstanding Series B cashless warrants have been fully exercised

Cyngn (CYN) announced that all outstanding Series B cashless warrants have been fully exercised. These warrants were originally issued in connection with a public offering that closed on December 23, 2024. As part of that transaction, the company entered into a securities purchase agreement for the sale of 3,076,006 shares of its common stock, and 9,346,354 Pre-Funded Warrants to purchase shares of Common Stock in lieu of shares of Common Stock. Under the Purchase Agreement, Cyngn also issued Series A Warrants and Series B Warrants.