04:15 AM EST, 12/16/2024 (MT Newswires) -- Roadzen ( RDZN ) said late Sunday it priced an underwritten public offering of 2 million shares at $1.25 each for $2.5 million in gross proceeds.

Underwriters have been granted a 45-day option to purchase up to 300,000 additional shares.

Proceeds from the offering, expected to close Tuesday, will be used for sales and marketing, R&D, working capital and debt repayment.