5.26% -0.0057

Cyngn Inc (CYN)

Overview News Price History Option Chain Financials Why CYN Down? Discussions Forecast Stock Split

Why is Cyngn Inc (CYN) Stock down?

We've noticed a 5.26% decline in Cyngn Inc (CYN) stock during the 2024-05-03 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

08 Dec, 2023:

Shares of Cyngn Inc (CYN) dropped by 47.00% from $0.40 to $0.212 in the trading on Friday, December 8, 2023. The reason why is CYN down today is due to the company's announcement of a public offering of common stock, which is expected to raise approximately $5.0 million in gross proceeds before expenses. The offering includes 33,333,333 shares of common stock and pre-funded warrants, with each share priced at $0.15 and each pre-funded warrant at $0.14999 (after a $0.00001 reduction related to the exercise price of the pre-funded warrants). The offering is set to close on December 12, 2023, subject to customary closing conditions.