Roadzen closes public offering of 2.3M shares at $1.25, gross proceeds $2.875M

Roadzen Inc.

Gross proceeds of $2.875M from sale of 2.3M shares/pre-funded warrants, including full exercise of underwriter's 300,000-share over-allotment.
Net proceeds of approximately $2.5M after underwriting discounts and expenses.
Proceeds to be used for sales/marketing, R&D, working capital, general corporate purposes, and possibly debt repayment.
ThinkEquity acted as sole book-running manager; underwriter received warrants to purchase 115,000 shares at $1.5625 per share.
30-day lock-up restricts issuance of securities at effective price below $1.25 per share without prior consent.

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