NEW YORK, Dec.17, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc.(NASDAQ:RDZN), ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced the closing of its previously announced underwritten public offering of 2,300,000 ordinary shares (or pre-funded warrants (("Pre-funded Warrants")) in lieu thereof), including 300,000 shares sold upon full exercise of the underwriter's option to purchase additional shares (the "Offering") at a public offering price of $1.25 per share (inclusive of the Pre-Funded Warrant exercise price), for gross proceeds of $2,875,000, before deducting underwriting discounts, commissions and Offering expenses.
The Company intends to use the net proceeds from the Offering primarily for costs directly related to sales and marketing, for research and development, working capital and general corporate purposes, including personnel costs, capital expenditure and the costs of operating as a public company.
The Offering was made pursuant to a shelf registration statement on Form S-3 (File No.333-282966), including a base prospectus, filed with the U.S.
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