Corporate ActionMay 5, 2026, 05:32 PM
Roadzen Prices $8.0M Registered Direct Offering at $1.70/Share
AI Summary
Roadzen Inc. announced the pricing and closing of a registered direct offering, selling 4,705,870 ordinary shares at $1.70 per share. The offering generated gross proceeds of approximately $8.0 million before deducting fees and expenses. The company intends to use the net proceeds for working capital, general corporate purposes, and potentially to repay outstanding indebtedness. Maxim Group LLC acted as the sole placement agent for the offering.
Key Highlights
- Roadzen completed a registered direct offering of 4,705,870 ordinary shares.
- The shares were priced at $1.70 per share.
- The offering generated gross proceeds of approximately $8.0 million.
- Net proceeds will be used for working capital, general corporate purposes, and debt repayment.
- Maxim Group LLC served as the sole placement agent.
- The placement agent received a 6.0% cash fee and $30,000 for expenses.
- The offering closed on May 5, 2026.
Price Impact
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