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

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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 

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SOURCE Cyngn

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United Announces Accelerated Timeline for Starlink’s Industry-Leading Connectivity in the Sky

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January 5, 2025

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First commercial flight with Starlink service now expected by spring, entire two-cabin regional fleet is outfitted by end of 2025 and first mainline plane expected to fly before end of year

Access will be free for all MileagePlus® customers and includes game-changing inflight entertainment experiences like streaming services, shopping, gaming and more

Sign-up for United’s award-winning loyalty program for free now at united.com/starlink

LAS VEGAS, Jan. 5, 2025 /PRNewswire/ — United Airlines today announced an accelerated timeline to bring Starlink – the world’s fastest, most reliable connectivity in the sky – to United travelers around the world.

The airline now expects to begin testing Starlink next month with the first commercial flight anticipated to take off this spring on a United Embraer E-175 aircraft. United now plans to outfit its entire two-cabin regional fleet by the end of this year and have its first mainline Starlink-enabled plane in the air before the end of this year.

Ultimately, United will add Starlink to its entire fleet.

Access will be free for all MileagePlus customers and includes game-changing inflight entertainment experiences like streaming services, shopping, gaming and more. Membership to MileagePlus is also free and people can sign-up now at united.com/starlink.

“We have a lot planned for our MileagePlus members this year and adding Starlink to as many planes as we can – as quickly as we can – is at the center of it all,” said Richard Nunn, CEO of United MileagePlus. “It’s not only going to revolutionize the experience of flying United, but it’s also going to unlock tons of new partnerships and benefits for our members that otherwise wouldn’t be possible.”

Last September, United signed the industry’s largest agreement of its kind with SpaceX to bring Starlink to its entire fleet. And starting in a few months, the airline’s customers will enjoy the same high-speed, low-latency internet service in the air that they enjoy on the ground. This gate-to-gate connectivity will enable experiences in the sky at scale that no other major U.S. airline provides, on seatback screens and personal devices simultaneously.

MileagePlus was recently rated the world’s best airline loyalty program and includes the following features:

Free to join, for all customersFree to earn milesMiles never expireNo blackout dates for award seats – if there’s a seat open you can buy it with milesJust about anything you can pay for with cash at United, you can buy with miles (seats, wifi, snacks, etc.)And United became the first major U.S. airline to allow members of its loyalty program to pool their miles with family and friends into a joint account.

On an average day, about 31,000 United seats are filled by MileagePlus customers using their miles – that’s the same as filling about 100 Boeing 777 aircraft. During the summer of 2024, more than three million MileagePlus customers flew on award tickets.

About United

At United, Good Leads The Way. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers and is now the largest airline in the world as measured by available seat miles. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol “UAL”.

About Starlink

Starlink delivers high-speed, low-latency internet to users all over the world. As the world’s first and largest satellite constellation using a low Earth orbit, Starlink delivers broadband internet capable of supporting streaming, online gaming, video calls and more.  Starlink is engineered and operated by SpaceX. As the world’s leading provider of launch services, SpaceX is leveraging its deep experience with both spacecraft and on-orbit operations to deploy the world’s most advanced broadband internet system.

View original content to download multimedia:https://www.prnewswire.com/news-releases/united-announces-accelerated-timeline-for-starlinks-industry-leading-connectivity-in-the-sky-302342347.html

SOURCE United Airlines

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BE OPEN Art launches the first regional competition of 2025 to support emerging artists of South Asia

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January 5, 2025

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LUGANO, Switzerland, Jan. 5, 2025 /PRNewswire/ — BE OPEN Art, an online gallery set up by Elena Baturina’s humanitarian think-tank BE OPEN, continues to run BE OPEN Regional Art, the regional competition for emerging artists aimed to support those whose art best represents their regional, cultural and ethnic identities, for the third year now.

In 2025, the BE OPEN expert community will continue selecting those artists who best represent the artistic tradition of a certain region to feature in the BE OPEN Art gallery and offer them greater visibility.

The first stage of the third year of the programme run will cover the countries of South Asia: Bangladesh, Bhutan, India, Pakistan, Nepal, Afghanistan and Sri Lanka. The stage will traditionally last three months, and the regional winner for South Asia will be announced and awarded 500 euro in early April. And from this stage on, not only each regional winner selected by the public will be awarded a money prize, but the Founder’s favourite as well.

In the meantime, artworks by 20 emerging artists from the listed countries will be posted at the online gallery every month, and a public vote will select the Regional Artist of the Month. At the end of the stage, one of the monthly winners will become the Artist of the Region, based on the amount of votes by the public and the BE OPEN art community members.

The regional competition runs alongside the regular ongoing work of BE OPEN Art, whose experts every month select 20 new artists for the gallery, using online voting to name the Artist of the Month and the Artist of the Year. 

Aiming to support emerging talent, BE OPEN Art selects artists at an early stage of their career who emphasize social consciousness and aesthetical solutions to the wrongs of the contemporary world. The project sees its mission in looking for new influencers in the art scene, and invites everyone to contribute.

BE OPEN is a global initiative to foster creativity and innovation, a think-tank whose mission is to promote people and ideas today to build solutions for tomorrow. It is a cultural and social initiative supported by Austria-based international philanthropist and businessperson Elena Baturina.

View original content:https://www.prnewswire.co.uk/news-releases/be-open-art-launches-the-first-regional-competition-of-2025-to-support-emerging-artists-of-south-asia-302337421.html

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JSAUX Debuts at CES 2025, Showcases Innovative FlipGo Portable Monitor

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January 5, 2025

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HONG KONG, Jan. 5, 2025 /PRNewswire/ — Tech brand JSAUX will make its first appearance at CES Las Vegas from January 7-10, 2025, at LVCC South Hall 1, booth #32344. Visitors can explore JSAUX’s latest innovations, including the FlipGo Horizon portable monitor and cutting-edge accessories for iPhone.

JSAUX’s Journey to Success

Since its founding in 2016, JSAUX has grown into a global leader in gaming accessories, serving 20 million customers in over 100 countries. Its success is built on:

Comprehensive Ecosystem: JSAUX offers an extensive lineup of gaming accessories for devices like Steam Deck, ROG Ally, and Legion Go, filling market gaps with solutions like docking stations, cases, and power cables.Proven Quality: With a return rate below 4%, JSAUX products are trusted for their durability and reliability.E-commerce Excellence: A robust online presence and engaged communities on platforms like Discord and Reddit enable real-time feedback and strong customer loyalty.Innovation & Recognition: With 143 patents and accolades like the iF and Red Dot Design Awards, JSAUX delivers groundbreaking products, including the FlipGo monitor, which raised over $1M on Kickstarter.

Featured Products at CES

FlipGo Horizon: A next-gen portable monitor with two 15.6″ screens that enhance productivity. The screens are magnetically attachable, rotatable for horizontal or vertical use, and foldable for easy portability.

BANG!CASE: Designed for iPhone 14-16 Pro models, this case features the BANG!Button, a Bluetooth-powered action button for instant app access. Its retro-futuristic transparent design and orange accents blend style and functionality.

GAMEBABY: A nostalgic iPhone case turning the device into a 90s-style handheld console. The detachable lower portion serves as a d-pad controller for gaming, reattaching seamlessly to protect the phone.

Future Innovations

JSAUX is also developing accessories for the next-generation Nintendo Switch, building on its success with Steam Deck and ROG Ally accessories. The goal remains clear: to provide gamers with a seamless, fully compatible experience.

Contact us at marketing@jsaux.com, and follow JSAUX on social media for updates.

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Photo – https://mma.prnewswire.com/media/2588583/JSAUX_X_CES2025_B2B.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/jsaux-debuts-at-ces-2025-showcases-innovative-flipgo-portable-monitor-302340439.html

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