Roadzen Inc. Announces Pricing of Public Offering

NEW YORK, Dec. 15, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN), (“Roadzen” or the “Firm”), a world chief in AI for the convergence of insurance coverage and mobility, at the moment introduced the pricing of an underwritten public providing of two,000,000 shares of its widespread inventory (or pre-funded warrants (“Pre-funded Warrants”) as a substitute) at a public providing value of $1.25 per share (together with the train value of the Pre-funded Warrant), for a gross proceeds of $2,500,000, earlier than deducting underwriting reductions, commissions and providing bills. All odd shares (and/or Pre-funded Warrants) are supplied by the Firm. As well as, the Firm has granted the underwriters a 45-day choice to buy as much as 300,000 further shares of widespread inventory (and/or pre-funded warrants) on the public providing value, much less reductions and commissions, to cowl over-allotments. The providing is predicted to shut on December 17, 2024, topic to the satisfaction of customary closing circumstances.

The corporate intends to make use of the online proceeds from the providing primarily for bills straight associated to gross sales and advertising, analysis and improvement, working capital and normal company functions, together with personnel prices, capital expenditures and the prices of working as a publicly traded firm . The Firm might also use a portion of the online proceeds to repay excellent debt.

ThinkEquity is performing as sole book-running supervisor for the providing.

The securities might be supplied and offered pursuant to a registration assertion on Type 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 providing might be made solely via a written prospectus. A prospectus complement and accompanying prospectus describing the phrases of the providing might be filed with the SEC on its web site at http://www.sec.gov. Copies of the prospectus complement and accompanying prospectus referring to the providing might also be obtained, when accessible, from the places of work of ThinkEquity, 17 State Avenue, 41^st Flooring, 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. below the securities legal guidelines of any such state or jurisdiction.

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a world expertise firm reworking auto insurance coverage utilizing superior synthetic intelligence (AI). 1000’s of consumers, 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 highway security. Roadzen’s groundbreaking work in telematics, generative AI and pc 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 a substitute of weeks. The corporate is headquartered in Burlingame, California and has 360 workers throughout its world places of work within the US, India, UK and France. For extra data please go to http://www.roadzen.ai.

Cautionary Assertion Concerning Ahead-Trying Statements

This press launch incorporates 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”). ). 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 identified and unknown dangers, uncertainties and assumptions about us which will trigger our precise outcomes, exercise ranges, efficiency or achievements to be materially completely different from any future outcomes, exercise ranges, efficiency or achievements expressed or achieved. implied by such forward-looking statements. In some instances, you possibly can determine forward-looking statements by terminology equivalent to ‘could’, ‘ought to’, ‘might’, ‘would’, ‘anticipate’, ‘plan’, ‘anticipate’, ‘consider’, ‘estimate ‘, ‘ and ‘proceed’, or the adverse of such phrases or different related expressions. Such statements embody, however should not restricted to, statements concerning the anticipated completion of the providing described on this press launch and the supposed use of the proceeds from such providing, if accomplished. Elements that might trigger or contribute to such a discrepancy embody, however should not restricted to, these described in “Danger Elements” in our SEC filings, together with the Annual Report on Type 10-Ok filed on July 1, 2024 the SEC, any subsequent quarterly reviews and different paperwork that we subsequently file with the SEC. We urge you to rigorously contemplate these components, 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 performing 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 on account 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