Why Roadzen (RDZN) Stock Is Down 35% Today - Roadzen (NASDAQ:RDZN)

Roadzen Inc (NASDAQ:RDZN) shares are trading lower by 27% to $1.30 Monday morning after the company announced the pricing of a public offering of 2 million ordinary shares or pre-funded warrants at $1.25 per share, aiming to raise $2.5 million in gross proceeds before fees.

The company has also granted underwriters a 45-day option to purchase up to 300,000 additional shares to cover over-allotments.

The offering is expected to close on December 17, pending customary conditions. Roadzen plans to allocate the proceeds toward sales and marketing, R&D, working capital and general corporate needs, including public company expenses. A portion may also go toward repaying debt.

ThinkEquity is serving as the sole book-running manager for the offering.

According to data from Benzinga Pro, SOFI has a 52-week high of and a 52-week low of

RDZNRoadzen Inc

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