Roadzen Inc. Announces Closing of Public Offering

NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Firm”), a world chief in AI on the convergence of insurance coverage and mobility, immediately introduced the closing of its beforehand introduced underwritten public providing of two,300,000 peculiar shares (or pre-funded warrants ((“Pre-funded Warrants”)) in lieu thereof), together with 300,000 shares offered upon full train of the underwriter’s choice to buy further shares (the “Providing”) at a public providing worth of $1.25 per share (inclusive of the Pre-Funded Warrant train worth), for gross proceeds of $2,875,000, earlier than deducting underwriting reductions, commissions and Providing bills. The entire peculiar shares (and/or Pre-funded Warrants) have been offered by the Firm.

The Firm intends to make use of the web proceeds from the Providing primarily for prices straight associated to gross sales and advertising and marketing, for analysis and growth, working capital and basic company functions, together with personnel prices, capital expenditure and the prices of working as a public firm. The Firm can also use a portion of the web proceeds to repay indebtedness excellent.

ThinkEquity acted as sole book-running supervisor for the providing.

The Providing was made pursuant to a shelf registration assertion on Kind S-3 (File No. 333-282966), together with a base prospectus, filed with the U.S. Securities and Change Fee (the “SEC”) on November 1, 2024 and declared efficient on November 12, 2024. The ultimate prospectus complement referring to the Providing was filed with the SEC on December 16, 2024 and is obtainable on the SEC’s web site at http://www.sec.gov. Copies of the ultimate prospectus complement and the accompanying prospectus referring to the Providing could also be obtained from ThinkEquity, 17 State Avenue, 41^st Flooring, 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 those securities in any state or jurisdiction during which such a proposal, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a world expertise firm remodeling auto insurance coverage utilizing superior synthetic intelligence (AI). 1000’s of purchasers, from the world’s main insurers, carmakers, and fleets to dealerships and auto insurance coverage brokers, use Roadzen’s expertise to construct new merchandise, promote insurance coverage, course of claims, and enhance street security. Roadzen’s pioneering work in telematics, generative AI, and pc 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 honest, and claims are processed inside minutes, not weeks. Headquartered in Burlingame, California, the Firm has 360 workers throughout its international places of work within the U.S., India, U.Okay. and France. To study extra, please go to http://www.roadzen.ai.

Cautionary Assertion Relating to Ahead Wanting Statements

This press launch contains forward-looking statements throughout the which 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”). Now we have based mostly these forward-looking statements on our present expectations and projections about future occasions. These forward-looking statements are topic to identified 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 possibly can determine forward-looking statements by terminology corresponding to “might,” “ought to,” “might,” “would,” “anticipate,” “plan,” “anticipate,” “imagine,” “estimate,” and “proceed,” or the adverse of such phrases or different comparable expressions. Such statements embody, however should not restricted to, statements concerning the meant use of proceeds of the providing described above. Components which may trigger or contribute to such a discrepancy embody, however should not restricted to, these described in “Danger Components” in our SEC filings, together with the annual report on Kind 10-Okay we filed with the SEC on July 1, 2024, any subsequently filed quarterly reviews and different paperwork we subsequently file with the SEC. We urge you to think about these elements, 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 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