NEW YORK, December 15, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN), (Roadzen or the Firm), a world chief in AI on the convergence of insurance coverage and mobility, at the moment introduced at the moment the value of a contract taken out. public providing of two,000,000 shares of frequent inventory (or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) on the public providing value of $1.25 per share (together with the train value of the pre-funded warrants), for gross proceeds of $2,500,000, earlier than deducting subscription reductions, commissions and bills of provide. All odd shares (and/or pre-funded Warrants) are supplied by the Firm. As well as, the Firm has granted the underwriters a 45-day choice to buy as much as 300,000 extra shares of frequent inventory (and/or pre-funded warrants) on the public providing value much less reductions and commissions, to cowl over-allotments. The providing is predicted to shut on December 17, 2024, topic to satisfaction of customary closing situations.
The Firm intends to make use of the online proceeds from the providing primarily for prices straight associated to gross sales and advertising and marketing, analysis and growth, working capital and normal company functions, together with personnel prices, capital expenditures and working prices as a public firm. The Firm may use a portion of the online proceeds to repay excellent debt.
ThinkEquity is performing as sole bookrunner for the providing.
The securities will probably be supplied and bought pursuant to a shelf registration assertion on Kind S-3 (File No. 333-282966), together with a base prospectus, filed with the USA Securities and Alternate Fee (the SEC). on November 1, 2024 and declared efficient on November 12, 2024. The providing will probably be made solely by the use of a written prospectus. A prospectus complement and accompanying prospectus describing the phrases of the providing will probably be filed with the SEC on its web site at www.sec.gov. Copies of the prospectus complement and accompanying prospectus regarding the providing may be obtained, when accessible, from the places of work of ThinkEquity, 17 State Road (NYSE:), 41st Flooring, New York, New York 10004.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such provide, solicitation or sale can be illegal previous to registration or qualification. underneath the securities legal guidelines of any such state or jurisdiction.
About Roadzen Inc.
Roadzen Inc. (Nasdaq: RDZN) is a world expertise firm reworking auto insurance coverage by way of superior synthetic intelligence (AI). 1000’s of shoppers, from the world’s largest insurers, automakers and fleets to auto insurance coverage sellers and brokers, use Roadzen’s expertise to create new merchandise, promote insurance coverage, course of claims and enhance highway security. Roadzen’s pioneering work in telematics, generative AI and laptop imaginative and prescient has been acknowledged as a number one AI innovator by publications together with Forbes, Fortune and Monetary Categorical. Roadzen’s mission is to proceed to advance AI analysis on the intersection of mobility and insurance coverage, paving the way in which for a world the place accidents are prevented, premiums are truthful, and claims are processed in minutes, not weeks. Headquartered in Burlingame, California, the corporate has 360 staff throughout its world places of work in the USA, India, United Kingdom and France. To be taught extra, please go to www.roadzen.ai.
Warning Concerning Ahead-Trying Statements
This press launch contains forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended (the Securities Act), and Part 21E of the Securities Alternate Act of 1934, as amended (the Alternate Act). We’ve got based mostly these forward-looking statements on our present expectations and projections concerning future occasions. These forward-looking statements are topic to recognized and unknown dangers, uncertainties and assumptions about us that will trigger our precise outcomes, ranges of exercise, efficiency or achievements to be materially completely different from the precise outcomes, ranges of exercise, efficiency or achievements. futures expressed or implied by these forward-looking statements. In some circumstances, you possibly can establish forward-looking statements by terminology akin to could, ought to, might, would, count on, plan, anticipate, imagine, estimate and proceed, or the unfavorable of those phrases or different related expressions. . These statements embody, however aren’t restricted to, statements concerning the anticipated consummation of the providing described on this press launch and the anticipated use of proceeds from such providing, if consummated. Components that would trigger or contribute to such a distinction embody, however aren’t restricted to, these described within the Threat Components part of our filings with the SEC, together with our Annual Report on Kind 10-Ok. with the SEC on July 1, 2024, any subsequent reviews. we now have filed quarterly reviews and different paperwork which we then file with the SEC. We urge you to contemplate these elements, dangers and uncertainties rigorously when evaluating the forward-looking statements contained on this press launch. All subsequent written or oral forward-looking statements attributable to our firm or individuals performing on our behalf are expressly certified of their entirety by these cautionary statements. The forward-looking statements included on this press launch are made solely as of the date of this press launch. Besides to the extent expressly required by relevant securities legal guidelines, we disclaim any intention or obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case.
For extra data, please contact:
Investor contacts: IR@roadzen.ai
Media contacts:
Roadzen: Sanya Soni sanya@roadzen.ai or media@roadzen.ai
Gutenberg: roadzen@thegutenberg.com
#Roadzen #Pronounces #Public #Providing #Pricing #Investing.com , #Gossip247
,
