Roadzen Inc. Moves Forward with $5 Million Public Share Offering

Roadzen Inc. announces a public offering of 2,222,300 shares at $2.25 each to raise approximately $5 million.

Overview of the Offering

Roadzen Inc., a frontrunner in AI-driven insurance technology, has revealed a public offering of 2,222,300 ordinary shares priced at $2.25 each. This initiative aims to raise about $5 million in gross proceeds. The offering is scheduled to close on January 6, 2025, subject to usual closing conditions. Funds from this offering will support sales and marketing, research and development, and general corporate expenses, including possible debt repayment. ThinkEquity is the exclusive placement agent for this offering, which has been registered with the SEC. Based in California, Roadzen employs advanced technologies to reshape auto insurance, enhancing efficiency and road safety in the process.

Prospective Benefits

• The offering of 2,222,300 shares could significantly improve Roadzen Inc.’s financial position by raising around $5 million.
• Intended uses for the proceeds include sales, marketing, and research, highlighting the company’s commitment to growth and innovation.
• With an expected close on the offering, Roadzen will have timely capital to fund its strategic projects.
• Roadzen’s innovations in AI have established it as a key player in both the insurance and mobility sectors, likely attracting more clients and investors.

Potential Challenges

• The decision to raise only $5 million might suggest cash flow challenges or limited interest from larger investors.
• With proceeds earmarked primarily for sales and marketing, there may be signs of difficulty in gaining market traction.
• Offering shares at a lower price of $2.25 could indicate concerns about Roadzen’s market standing or investor confidence.

Frequently Asked Questions

What is the share price for Roadzen’s latest offering?

The share price for Roadzen’s latest offering is set at $2.25, with a total of 2,222,300 ordinary shares available.

When will the offering close?

The offering is expected to close on January 6, 2025, pending usual closing conditions.

How will Roadzen utilize the proceeds?

Roadzen plans to primarily allocate the proceeds for sales and marketing, research and development, working capital, and debt repayment.

Who is handling the placement of shares for this offering?

ThinkEquity is the sole placement agent for this share offering.

Where can I access the prospectus for Roadzen’s offering?

The prospectus supplement and related documents can be found on the SEC’s website and obtained from ThinkEquity’s office.

Disclaimer: This summary is based on a press release distributed by GlobeNewswire. The model used may have inaccuracies. Please see the full release for details.

Insider Trading Activity in $RDZN

In the past six months, $RDZN insiders have reported 19 trades in total, with all being purchases and none as sales.

Insider trading breakdown over the last six months is as follows:

• ROHAN MALHOTRA has executed 14 trades, acquiring 15,057 shares with no sales.
• SUPURNA VEDBRAT has traded 5 times, purchasing 3,800 shares without any sales.

For more insights on insider transactions, check Quiver Quantitative’s dashboard.

Institutional Activity for $RDZN

Recently, 24 institutional investors have increased their shares of $RDZN stock, while 12 have reduced their holdings in the latest quarter.

Some notable changes include:

• METEORA CAPITAL, LLC reduced shares by 887,593 (-22.0%) in Q3 2024.
• BLACKROCK, INC. added 178,767 shares (+29.0%) in Q3 2024.
• NORTHERN TRUST CORP increased holdings by 95,251 shares (+inf%) in Q3 2024.
• UBS GROUP AG boosted its portfolio by 69,746 shares (+1514.6%) in Q3 2024.
• GOLDMAN SACHS GROUP INC increased shares by 51,245 (+482.1%) in Q3 2024.
• MURCHINSON LTD removed 45,167 shares (-100.0%) in Q3 2024.
• GEODE CAPITAL MANAGEMENT, LLC added 43,235 shares (+24.3%) in Q3 2024.

To monitor institutional holdings, refer to Quiver Quantitative’s dashboard.

Full Press Release

NEW YORK, Jan. 03, 2025 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN) has announced a best-efforts offering of 2,222,300 ordinary shares at a public price of $2.25 per share, which aims to generate roughly $5,000,000 before expenses. All shares are offered by the company. The closing of the offering is anticipated for January 6, 2025, pending customary conditions.

The company intends to use the net proceeds for sales and marketing, research and development, working capital, and general corporate needs, including potential debt repayment.

ThinkEquity is the exclusive placement agent for this offering.

The securities will be offered through a shelf registration statement filed with the U.S. Securities and Exchange Commission on November 1, 2024, and effective as of November 12, 2024. All offerings will be conducted via a written prospectus. A prospectus supplement detailing the offer will be filed with the SEC and available through ThinkEquity’s New York office.

This press release does not serve as an offer to sell or a request to buy, nor shall there be any sale of these securities in areas where such actions would be unlawful before registration or qualification under local securities laws.

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a technology firm transforming the auto insurance landscape through innovative AI solutions. Thousands of clients, including major insurers, car manufacturers, and dealerships, leverage Roadzen’s technology to develop new products, sell insurance, manage claims, and improve road safety. The company stands out with its advancements in telematics, generative AI, and computer vision, earning accolades as a leading innovator by prominent publications such as Forbes and Fortune. Roadzen’s objective is to advance AI at the crossroads of mobility and insurance, promoting a future where accidents are minimized, premiums are equitable, and claims are processed swiftly. The company is based in Burlingame, California.