Roadzen’s Insiders and Major Shareholders Agree to Extend Lock-Up for an Additional Year
Roadzen Inc. (Nasdaq: RDZN), an AI-driven insurance and mobility company, has announced that its major shareholders and insiders have agreed to extend their lock-up agreements by 12 months, until September 20, 2025. This extension applies to shareholders owning over 56 million shares, representing those with more than 5% ownership, holders of a majority of shares held by other shareholders, and all company insiders.
CEO Rohan Malhotra expressed gratitude for shareholder support, emphasizing that this extension allows time to build the company's fundamental business. Roadzen is positioned as one of the few publicly traded, AI-first technology companies with over $50 million in revenue in the last twelve months. The company is focusing on profitability and has undertaken measures to restructure its balance sheet. Malhotra highlighted Roadzen's potential in the $800 billion auto insurance market and reaffirmed the company's mission to deliver the best insurance experience globally while generating strong returns for shareholders.
Roadzen Inc. (Nasdaq: RDZN), un'azienda di assicurazioni e mobilità guidata dall'AI, ha annunciato che i suoi principali azionisti e insider hanno accordato di estendere i loro accordi di lock-up di 12 mesi, fino al 20 settembre 2025. Questa estensione si applica agli azionisti che possiedono oltre 56 milioni di azioni, rappresentando coloro che detengono più del 5% di proprietà, detentori di una maggioranza delle azioni possedute da altri azionisti e tutti gli insider dell'azienda.
Il CEO Rohan Malhotra ha espresso gratitudine per il supporto degli azionisti, sottolineando che questa estensione consente tempo per costruire l'attività fondamentale dell'azienda. Roadzen è posizionata come una delle poche aziende tecnologiche quotate in borsa, con un focus sull'AI, con oltre 50 milioni di dollari di entrate negli ultimi dodici mesi. L'azienda si sta concentrando sulla redditività e ha intrapreso misure per ristrutturare il proprio bilancio. Malhotra ha evidenziato il potenziale di Roadzen nel mercato dell'assicurazione auto da 800 miliardi di dollari e ha ribadito la missione dell'azienda di offrire la migliore esperienza assicurativa a livello globale, generando al contempo forti rendimenti per gli azionisti.
Roadzen Inc. (Nasdaq: RDZN), una empresa de seguros y movilidad impulsada por IA, ha anunciado que sus principales accionistas e insiders han acordado extender sus acuerdos de bloqueo por 12 meses, hasta el 20 de septiembre de 2025. Esta extensión se aplica a los accionistas que poseen más de 56 millones de acciones, representando a aquellos con más del 5% de propiedad, titulares de la mayoría de las acciones poseídas por otros accionistas y todos los insiders de la empresa.
El CEO Rohan Malhotra expresó su agradecimiento por el apoyo de los accionistas, enfatizando que esta extensión permite tiempo para construir el negocio fundamental de la empresa. Roadzen está posicionada como una de las pocas empresas tecnológicas cotizadas en bolsa, con un enfoque en IA, con más de 50 millones de dólares en ingresos en los últimos doce meses. La empresa se está enfocando en la rentabilidad y ha tomado medidas para reestructurar su balance. Malhotra destacó el potencial de Roadzen en el mercado de seguros de automóviles de 800 mil millones de dólares y reafirmó la misión de la compañía de ofrecer la mejor experiencia de seguros a nivel mundial mientras genera fuertes retornos para los accionistas.
로드젠 주식회사 (Nasdaq: RDZN) 는 AI 기반의 보험 및 모빌리티 회사로서, 주요 주주들과 내부 관계자들이 락업 계약을 12개월 연장하기로 합의했다고 발표했습니다. 이 연장은 5% 이상의 지분을 보유한 5,600만 주 이상의 주식을 소유한 주주들과 다른 주주들에 의해 보유된 주식의 과반수를 차지하는 사람들, 그리고 모든 회사 내부자에게 적용됩니다.
CEO 로한 말호트라는 주주들의 지지에 감사의 뜻을 표하며, 이 연장이 회사의 핵심 사업을 구축할 수 있는 시간을 허락한다고 강조했습니다. 로드젠은 지난 12개월 동안 5천만 달러 이상의 수익을 올린 AI 우선 기술 기업 중 소수의 공개 상장 기업 중 하나로 자리잡고 있습니다. 회사는 수익성에 집중하고 있으며, 재무구조를 재편하기 위한 조치를 취하고 있습니다. 말호트라는 로드젠의 8천억 달러 규모의 자동차 보험 시장에서의 잠재력을 강조하며, 강력한 주주 수익을 창출하면서 전 세계 최고의 보험 경험을 제공하겠다는 회사의 사명을 재확인했습니다.
Roadzen Inc. (Nasdaq: RDZN), une entreprise d'assurance et de mobilité axée sur l'IA, a annoncé que ses principaux actionnaires et insiders ont accepté d'étendre leurs accords de blocage de 12 mois, jusqu'au 20 septembre 2025. Cette extension s'applique aux actionnaires possédant plus de 56 millions d'actions, représentant ceux qui détiennent plus de 5 % de propriété, les détenteurs d'une majorité des actions détenues par d'autres actionnaires et tous les insiders de l'entreprise.
Le PDG Rohan Malhotra a exprimé sa gratitude pour le soutien des actionnaires, soulignant que cette extension permet de prendre le temps de construire l'activité fondamentale de l'entreprise. Roadzen est positionnée comme l'une des rares entreprises technologiques cotées en bourse avec un focus sur l'IA, ayant réalisé plus de 50 millions de dollars de revenus au cours des douze derniers mois. La société se concentre sur la rentabilité et a entrepris des mesures pour restructurer son bilan. Malhotra a mis en avant le potentiel de Roadzen sur le marché de l'assurance auto de 800 milliards de dollars et a réaffirmé la mission de l'entreprise de fournir la meilleure expérience en matière d'assurance à l'échelle mondiale tout en générant des rendements solides pour les actionnaires.
Roadzen Inc. (Nasdaq: RDZN), ein AI-gesteuertes Versicherungs- und Mobilitätsunternehmen, hat angekündigt, dass seine wichtigsten Aktionäre und Insider zugestimmt haben, ihre Lock-up-Vereinbarungen um 12 Monate zu verlängern, bis zum 20. September 2025. Diese Verlängerung gilt für Aktionäre, die über 56 Millionen Aktien besitzen, also für diejenigen, die mehr als 5 % Eigenkapital halten, für Inhaber der Mehrheit der von anderen Aktionären gehaltenen Anteile und für alle Unternehmensinsider.
CEO Rohan Malhotra drückte seine Dankbarkeit für die Unterstützung der Aktionäre aus und betonte, dass diese Verlängerung Zeit verschafft, um das grundlegende Geschäft des Unternehmens aufzubauen. Roadzen ist als eines der wenigen börsennotierten Technologieunternehmen mit AI- Fokus positioniert und verzeichnete in den letzten zwölf Monaten über 50 Millionen Dollar Umsatz. Das Unternehmen konzentriert sich auf Rentabilität und hat Maßnahmen zur Umstrukturierung seiner Bilanz ergriffen. Malhotra hob das Potenzial von Roadzen im 800 Milliarden Dollar großen Automobilversicherungsmarkt hervor und bekräftigte die Mission des Unternehmens, das beste Versicherungserlebnis weltweit zu bieten und gleichzeitig starke Renditen für die Aktionäre zu erzielen.
- Major shareholders and insiders agreed to extend lock-up agreements by 12 months, showing confidence in the company
- Roadzen has generated over $50 million in revenue in the last twelve months
- The company is focusing on profitability and has restructured its balance sheet
- Roadzen is positioned in the large $800 billion auto insurance market
- Original lock-up agreements were set to expire, potentially causing concern about stock dilution
Insights
The extension of lock-up agreements by major shareholders and insiders is a significant vote of confidence in Roadzen's long-term prospects. This move affects over 56 million shares, representing a substantial portion of the company's ownership. The extended lock-up period until September 20, 2025, provides Roadzen with a stable shareholder base and reduces potential selling pressure on the stock in the near term.
Roadzen's position as an AI-first technology company in the
However, investors should note that extended lock-ups can sometimes be viewed as a defensive move, potentially indicating concerns about near-term stock performance. The company's emphasis on long-term value creation over short-term pressures may result in volatility or subdued stock performance in the immediate future. Overall, this development provides Roadzen with an extended runway to execute its growth strategy without immediate dilution concerns.
Roadzen's positioning as an AI-first technology company in the insurance and mobility sector is particularly noteworthy. The convergence of AI with traditional industries like insurance represents a significant market opportunity. Roadzen's ability to generate over
The company's focus on delivering an enhanced insurance experience through AI technology could lead to competitive advantages in areas such as:
- More accurate risk assessment and pricing
- Improved claims processing efficiency
- Personalized insurance products and services
- Real-time data analysis for better decision-making
However, the AI insurance space is becoming increasingly competitive, with both startups and established insurers investing heavily in technology. Roadzen will need to continuously innovate and differentiate its offerings to maintain its market position. The extended lock-up period provides a stable environment for the company to focus on technological advancements and product development without the distraction of short-term market pressures.
NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a global leader in AI at the convergence of insurance and mobility, today announced that all its major shareholders known to own more than
"We are grateful for the continued support of our shareholders. This extension allows us time to build our fundamental business, which remains tremendously exciting. Roadzen is among a handful of publicly traded, AI-first technology companies that have delivered more than
“The unanimous vote of confidence from our major shareholders also allows us to continue building a global leader in the
For more information about Roadzen Inc., please visit https://roadzen.ai
About Roadzen Inc.
Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 380+ employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “expected,” “committed,” “plan,” “anticipate,” “believe,” “pipeline,” “leads,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our strategy, demand for our products, expansion plans, future operations, future operating results (including expectations regarding future profitability and returns to shareholders), planned balance sheet restructuring, estimated revenues (including from new contracts and joint ventures), losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the Annual Report on form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information, please contact:
Investor Contacts:
IR@roadzen.ai
Media Contacts:
Roadzen: Sanya Soni sanya@roadzen.ai or media@roadzen.ai
Gutenberg: roadzen@thegutenberg.com
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