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Cyngn | 8-K: Current report

Cyngn | 8-K: Current report

Cyngn | 8-K：重大事件
美股SEC公告 ·  2024/11/13 06:19

Moomoo AI 已提取核心信息

Cyngn has entered into a securities purchase agreement to raise $3.5 million through the private placement of notes with a principal amount of $4.375 million and the issuance of 405,125 common shares. The notes carry a 20% original issue discount and mature within 90 days. $1 million of the proceeds will be held in escrow, released upon registration statement filing and effectiveness.The company is implementing an immediate cost reduction plan to decrease monthly cash burn from $1.8 million to $1 million for 90 days. This includes reducing staff from 80 to 60 people and suspending non-essential operations. The company has also engaged Aegis Capital to explore additional fundraising options for working capital needs.As part of the agreement, directors and executive officers have entered into 60-day lock-up agreements following the registration statement's effectiveness. Aegis Capital served as the placement agent, receiving 7% of gross proceeds plus legal fee reimbursement. The company plans to use net proceeds for working capital and general corporate purposes.
Cyngn has entered into a securities purchase agreement to raise $3.5 million through the private placement of notes with a principal amount of $4.375 million and the issuance of 405,125 common shares. The notes carry a 20% original issue discount and mature within 90 days. $1 million of the proceeds will be held in escrow, released upon registration statement filing and effectiveness.The company is implementing an immediate cost reduction plan to decrease monthly cash burn from $1.8 million to $1 million for 90 days. This includes reducing staff from 80 to 60 people and suspending non-essential operations. The company has also engaged Aegis Capital to explore additional fundraising options for working capital needs.As part of the agreement, directors and executive officers have entered into 60-day lock-up agreements following the registration statement's effectiveness. Aegis Capital served as the placement agent, receiving 7% of gross proceeds plus legal fee reimbursement. The company plans to use net proceeds for working capital and general corporate purposes.
Cyngn已签署证券购买协议，通过定向增发票据筹集350万美元，票据本金为437.5万美元，发行405,125股普通股。票据享有20%的原始发行折扣，且在90天内到期。100万美元的收益将被保留在托管账户中，注册声明提交并生效后释放。公司正在实施一项立即的成本削减计划，将每月现金消耗从180万美元减少到100万美元，为期90天。这包括将员工人数从80人减少到60人，并暂停非必要运营。公司还聘请了Aegis Capital以探索额外的融资选项以满足营运资本需求。作为协议的一部分，董事和高管在注册声明生效后已签署60天锁定协议。Aegis Capital担任了承销商，获得了7%的毛收益以及法律费用的报销。公司计划将净收益用于营运资本和一般企业用途。
Cyngn已签署证券购买协议，通过定向增发票据筹集350万美元，票据本金为437.5万美元，发行405,125股普通股。票据享有20%的原始发行折扣，且在90天内到期。100万美元的收益将被保留在托管账户中，注册声明提交并生效后释放。公司正在实施一项立即的成本削减计划，将每月现金消耗从180万美元减少到100万美元，为期90天。这包括将员工人数从80人减少到60人，并暂停非必要运营。公司还聘请了Aegis Capital以探索额外的融资选项以满足营运资本需求。作为协议的一部分，董事和高管在注册声明生效后已签署60天锁定协议。Aegis Capital担任了承销商，获得了7%的毛收益以及法律费用的报销。公司计划将净收益用于营运资本和一般企业用途。
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