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, at present introduced the pricing of a best-efforts providing of two,222,300 strange shares at a public providing worth of $2.25 per share, for gross proceeds of roughly $5,000,000, earlier than deducting placement agent charges and providing bills. All the strange shares are being provided by the Firm. The providing is predicted to shut on January 6, 2025, topic to satisfaction of customary closing circumstances.
The Firm intends to make use of the online proceeds from the providing primarily for prices instantly associated to gross sales and advertising and marketing, for analysis and improvement, working capital and basic 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 appearing as sole placement agent for the providing.
The securities will likely be provided and offered pursuant to a shelf registration assertion on Type S-3 (File No. 333-282966), filed with the U.S. Securities and Alternate Fee (the SEC) on November 1, 2024 and declared efficient on November 12, 2024. The providing will likely be made solely via a written prospectus. A prospectus complement and accompanying prospectus describing the phrases of the providing will likely be filed with the SEC on its web site at www.sec.gov. Copies of the prospectus complement may additionally be obtained, when out there, from the workplaces of ThinkEquity, 17 State Road (NYSE:), forty first Ground, New York, New York 10004.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such a suggestion, solicitation or sale could 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 remodeling 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 highway security. Roadzen’s pioneering work in telematics, generative AI, and laptop imaginative and prescient has earned recognition as a high AI innovator by publications similar 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 staff throughout its world workplaces within the U.S., India, U.Okay. and France. To be taught extra, please go to www.roadzen.ai.
Cautionary Assertion Concerning Ahead Wanting Statements
This press launch consists of forward-looking statements inside the that 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 have now based mostly 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 which 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 circumstances, you’ll be able to determine forward-looking statements by terminology similar to could, ought to, might, would, count on, plan, anticipate, imagine, estimate, and proceed, or the unfavourable of such phrases or different comparable expressions. Such statements embody, however usually are not restricted to, statements concerning the anticipated completion of the providing described on this press launch and the supposed use of proceeds of such providing, if accomplished. Elements that may trigger or contribute to such a discrepancy embody, however usually are not restricted to, these described in Threat Elements in our SEC filings, together with the annual report on Type 10-Okay we filed with the SEC on July 1, 2024, any subsequently filed quarterly experiences and different paperwork we subsequently file with the SEC. We urge you to contemplate these elements, dangers and uncertainties fastidiously 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 appearing 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 legislation, we disclaim any intention or obligation to replace or revise any forward-looking statements whether or not because of new info, future occasions or in any other case.
For extra info, 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.
