Sichenzia Ross Ference LLP Represents VC-backed Cyngn, Inc. in $26.3 Million Initial Public Offering

Press Release – New York, NY – October 25, 2021 – Sichenzia Ross Ference LLP announced today that it represented Cyngn, Inc., (NASDAQ: CYN) a venture capital backed developer of innovative autonomous driving software solutions for industrial and commercial enterprises, in its initial public offering. The offering consisted of 3,500,000 shares of its common stock at a public offering price of $7.50 per share, for gross proceeds of $26,300,000. Previous shareholders of CYN include Benchmark Capital, Andreessen Horowitz and Qualcomm Ventures.

The Company has granted the underwriters a 45-day option to purchase up to an additional 525,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

The Sichenzia Ross Ference LLP team was led by partners Gregory Sichenzia, Marcelle Balcombe, and Jeff Cahlon, and associate Zach Weiss.

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Sichenzia Ross Ference Carmel LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRFC’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

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Sichenzia Ross Ference LLP Represents VC-backed Cyngn, Inc. in $26.3 Million Initial Public Offering

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