Cyngn Inc. sets IPO at 3.53 million shares; sees pricing at $7.50-$9.50 each
Cyngn Inc. on Thursday said it plans to sell nearly 3.53 million shares at between $7.50 and $9.50 apiece in its initial public offering.
At the $8.50 midpoint of that range, the Menlo Park, Calif., autonomous-vehicle technology company said it expects net proceeds of about $26.8 million, or around $30.9 million if the underwriters exercise an option to buy an additional 529,412 shares.