Roadzen Inc. Completes Successful Public Offering of Shares

Roadzen Inc. Completes Successful Public Offering

Roadzen Inc. (Nasdaq: RDZN), a global leader in AI technology for the insurance and mobility sectors, has successfully concluded its public offering of 2,222,300 ordinary shares. This offering was conducted on a best-efforts basis with shares being sold at a public offering price of $2.25 each, leading to gross proceeds totaling $5,000,175 before deducting expenses related to placement agent commissions.

Utilization of Funds

The proceeds from this offering are earmarked for various strategic purposes. Primarily, the funds will be allocated to expenses related to sales and marketing, research and development initiatives, and operational costs as a public entity. Additionally, some proceeds may be directed towards repaying existing debts, positioning the company for further growth and innovation.

Role of ThinkEquity

ThinkEquity has played a crucial role as the exclusive placement agent for this offering, facilitating the process and ensuring a seamless transaction.

Regulatory Framework

This offering was executed in accordance with a shelf registration statement on Form S-3, which was filed with the U.S. Securities and Exchange Commission. The relevant documentation passed through the necessary regulatory channels, indicating the company’s compliance with SEC regulations. These filings were completed in 2024 and are aimed at enabling straightforward access to capital markets for ongoing operational needs.

About Roadzen Inc.

Roadzen Inc. stands at the forefront of transforming the auto insurance landscape through cutting-edge artificial intelligence technology. The company's innovative solutions are utilized by a vast network of clients, including major insurers, car manufacturers, and fleet operators. Through its advanced use of telematics and AI, Roadzen is dedicated to enhancing road safety, expediting claims processing, and ensuring fair insurance premiums. With a workforce of over 360 professionals, the company maintains global operations across the U.S., India, the U.K., and France, continuously striving to innovate within the intersection of mobility and insurance.

Recognition and Achievements

Roadzen's impact in the tech industry has not gone unnoticed. It has received accolades as a top AI innovator, featuring in leading publications that highlight its contributions to the insurance sector and beyond. The company’s commitment to research and development in AI holds the promise of a future where safety on the roads is enhanced significantly, and the insurance process becomes more efficient.

Contact Information

For further inquiries, stakeholders can reach out to the investor relations team via email at IR@roadzen.ai. Media inquiries can be directed to Sanya Soni at sanya@roadzen.ai or media@roadzen.ai, or through Gutenberg at roadzen@thegutenberg.com.

Frequently Asked Questions

What was the purpose of Roadzen's public offering?

The public offering was primarily aimed at raising funds for marketing, research and development, and general operational costs.

How much was raised in the public offering?

The offering generated gross proceeds of $5,000,175 before deductions for commissions and expenses.

Who acted as the placement agent for the offering?

ThinkEquity served as the exclusive placement agent for Roadzen's public offering.

What are Roadzen's main capabilities?

Roadzen specializes in AI-driven technology that improves the auto insurance sector, focusing on claims processing, product development, and enhancing overall road safety.

Where can I find more information about Roadzen?

Additional details about Roadzen Inc. can be found on their official website at www.roadzen.ai.

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