Core Viewpoint - Roadzen Inc. has announced a best-efforts offering of 2,222,300 ordinary shares at a price of $2.25 per share, aiming for gross proceeds of approximately $5 million, with the offering expected to close on January 6, 2025, subject to customary conditions [1]. Group 1: Offering Details - The offering consists entirely of ordinary shares offered by the company [1]. - The net proceeds will primarily be allocated for sales and marketing, research and development, working capital, and general corporate purposes, including personnel costs and capital expenditures [2]. - A portion of the net proceeds may also be used to repay outstanding indebtedness [2]. Group 2: Regulatory Information - The securities will be offered under a shelf registration statement on Form S-3, which was filed with the SEC on November 1, 2024, and declared effective on November 12, 2024 [3]. - The offering will be conducted only through a written prospectus, with a prospectus supplement to be filed with the SEC [3]. Group 3: Company Overview - Roadzen Inc. is a global technology company focused on transforming auto insurance through advanced AI, serving clients including leading insurers, carmakers, and auto insurance agents [5]. - The company has been recognized as a top AI innovator by various publications and aims to advance AI research at the intersection of mobility and insurance [5]. - Headquartered in Burlingame, California, Roadzen employs 360 individuals across its global offices in the U.S., India, U.K., and France [5].
Roadzen Inc. Announces Pricing of Offering