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NEW YORK, Jan. 03, 2025 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN), (Roadzen or the Firm), a world chief in AI on the convergence of insurance coverage and mobility, in the present day introduced the pricing of a best-efforts providing of 2,222,300 unusual shares at a public providing value of $2.25 per share, for gross proceeds of roughly $5,000,000, earlier than deducting placement agent charges and providing bills. All of the unusual shares are being provided by the Firm. The providing is predicted to shut on January 6, 2025, topic to satisfaction of customary closing situations.
The Firm intends to make use of the online proceeds from the providing primarily for prices instantly associated to gross sales and advertising, for analysis and growth, working capital and common company functions, together with personnel prices, capital expenditures and the prices of working as a public firm. The Firm may additionally use a portion of the online proceeds to repay indebtedness excellent.
ThinkEquity is performing as sole placement agent for the providing.
The securities can be provided and bought pursuant to a shelf registration assertion on Kind S-3 (File No. 333-282966), filed with the U.S. Securities and Change Fee (the SEC) on November 1, 2024 and declared efficient on November 12, 2024. The providing can be made solely by means of a written prospectus. A prospectus complement and accompanying prospectus describing the phrases of the providing can be filed with the SEC on its web site at www.sec.gov. Copies of the prospectus complement may additionally be obtained, when accessible, from the workplaces of ThinkEquity, 17 State Road (NYSE:), forty first Ground, New York, New York 10004.
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of these securities in any state or jurisdiction wherein such a proposal, 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 know-how firm reworking auto insurance coverage utilizing superior synthetic intelligence (AI). 1000’s of shoppers, from the world’s main insurers, carmakers, and fleets to dealerships and auto insurance coverage brokers, use Roadzen’s know-how to construct new merchandise, promote insurance coverage, course of claims, and enhance street security. Roadzen’s pioneering work in telematics, generative AI, and laptop imaginative and prescient has earned recognition as a prime AI innovator by publications corresponding to Forbes, Fortune, and Monetary Specific. Roadzen’s mission is to proceed advancing AI analysis on the intersection of mobility and insurance coverage, ushering in a world the place accidents are prevented, premiums are truthful, and claims are processed inside minutes, not weeks. Headquartered in Burlingame, California, the Firm has 360 workers throughout its international workplaces within the U.S., India, U.Ok. and France. To be taught extra, please go to www.roadzen.ai.
Cautionary Assertion Concerning Ahead Wanting Statements
This press launch contains forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended (the Securities Act), and Part 21E of the Securities Change Act of 1934, as amended (the Change Act). We have now primarily based these forward-looking statements on our present expectations and projections about 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 totally different from any future outcomes, ranges of exercise, efficiency or achievements expressed or implied by such forward-looking statements. In some instances, you’ll be able to establish forward-looking statements by terminology corresponding to might, ought to, may, would, anticipate, plan, anticipate, consider, estimate, and proceed, or the damaging of such phrases or different comparable expressions. Such statements embrace, however will not be restricted to, statements relating to the anticipated completion of the providing described on this press launch and the supposed use of proceeds of such providing, if accomplished. Components that may trigger or contribute to such a discrepancy embrace, however will not be restricted to, these described in Threat Components in our SEC filings, together with the annual report on Kind 10-Ok we filed with the SEC on July 1, 2024, any subsequently filed quarterly studies and different paperwork we subsequently file with the SEC. We urge you to contemplate these components, dangers and uncertainties rigorously in 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 launch. Besides as expressly required by relevant securities regulation, we disclaim any intention or obligation to replace or revise any forward-looking statements whether or not because of this 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
Supply: Roadzen Inc.
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