CYN News

The fall IPO market kept a brisk pace this past week with 11 IPOs, led by restaurant chain Portillo’s (PTLO). SPACs also stayed active, with 18 blank check IPOs. There was one postponement: winery Winc (WBEV). New filers continue to flood the pipeline, with 14 IPOs and X SPACs submitting initial filings. Portillo’s (PTLO) priced...read more

Cyngn, which develops autonomous driving software for commercial and industrial vehicles, raised $26 million by offering 3.5 million shares at $7.50, the low end of the range of $7.50 to $9.50. Backed by Benchmark Capital, the pre-revenue company intends to begin marketing its Enterprise Autonomy Suite (EAS) to customers in 2022. Cyngn plans to list on the Nasdaq under the...read more

Cyngn, which develops autonomous driving software for commercial and industrial vehicles, announced terms for its IPO on Thursday. The Menlo Park, CA-based company plans to raise $30 million by offering 3.5 million shares at a price range of $7.50 to $9.50. At the midpoint of the proposed range, Cyngn would command a fully diluted market value of $476 million. Cyngn is an...read more

The IPO market saw a quiet end to the summer with only two IPOs this past week. SPAC activity remained steady with seven blank check IPOs. New filers continue to pour into the IPO pipeline, with 11 IPOs, one direct listing, and two SPACs submitting initial filings.     For a deeper dive into the fall IPO market, read our ...read more