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 for the convergence of insurance coverage and mobility, right this moment introduced the closing of its beforehand introduced underwritten public providing of two,300,000 shares of its frequent inventory (or pre-funded warrants (“Pre-funded Warrants”) as an alternative), together with 300,000 shares offered upon full train of the underwriter’s choice to buy extra shares (the “Providing”) at a public providing worth of $1.25 per share (together with the train worth of the Pre-Funded Warrant), for gross proceeds of $2,875,000, earlier than deducting underwriting reductions, commissions and providing bills. All odd 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, analysis and improvement, working capital and basic company functions, together with personnel prices, capital expenditures and the prices of working as a publicly traded firm . The Firm can also use a portion of the web proceeds to repay excellent debt.

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

The Providing was made pursuant to a registration assertion on Kind S-3 (File No. 333-282966), together with a base prospectus, filed with the U.S. Securities and Trade Fee (the “SEC”) on November 1, 2024 and declared efficient on November 12, 2024 The ultimate prospectus complement regarding the Providing was filed with the SEC on December 16, 2024 and is accessible on the SEC’s web site at . http://www.sec.gov. Copies of the ultimate prospectus complement and accompanying prospectus regarding the providing could also be obtained from ThinkEquity, 17 State Road, 41^st Ground, New York, New York 10004.

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase nor shall there be any sale of those securities in any state or jurisdiction wherein such provide, solicitation or sale could be illegal previous to registration or qualification. beneath 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 shoppers, from the world’s main insurers, automakers and fleets to sellers and auto insurance coverage brokers, use Roadzen expertise to construct new merchandise, promote insurance coverage, course of claims and enhance street security. Roadzen’s groundbreaking work in telematics, generative AI and laptop imaginative and prescient has been acknowledged as a high AI innovator by publications equivalent 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 in minutes as an alternative of weeks. The corporate is headquartered in Burlingame, California and has 360 workers throughout its international workplaces within the US, India, UK and France. For extra data please go to http://www.roadzen.ai.

Cautionary Assertion Relating to Ahead-Trying Statements

This press launch comprises 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 Trade Act of 1934, as amended (the “Trade 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, exercise ranges, efficiency or achievements to be materially totally different from any future outcomes, exercise ranges, efficiency or achievements expressed or achieved. implied by such forward-looking statements. In some instances, you’ll be able to establish forward-looking statements by terminology equivalent to ‘could’, ‘ought to’, ‘might’, ‘would’, ‘anticipate’, ‘plan’, ‘anticipate’, ‘consider’, ‘estimate ‘, ‘ and ‘proceed’, or the unfavourable of such phrases or different related expressions. Such statements embrace, however will not be restricted to, statements concerning the supposed use of the proceeds from the providing described above. Components that might trigger or contribute to such a discrepancy embrace, however will not be restricted to, these described in “Danger Components” in our SEC filings, together with the Annual Report on Kind 10-Okay filed on July 1, 2024 the SEC, any subsequent quarterly stories and different paperwork that we subsequently file with the SEC. We urge you to rigorously contemplate these elements, dangers and uncertainties in evaluating the forward-looking statements contained on this press launch. Any 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 on this press launch are made solely as of the date of this press launch. Besides as expressly required by relevant securities legal guidelines, 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