RYDE GROUP LTD - RYDE STOCK NEWS

Ryde Group (NYSE: RYDE) reported financial results for 1H 2024, showing revenue of S$4.4 million (US$3.2 million), down from S$5.2 million in 1H 2023. The decline followed the implementation of a 0% commission model in January 2024. Despite lower revenue, adjusted EBITDA improved by 20%, with deficit narrowing to S$1.6 million. Key milestones include NYSE American listing in March 2024, AI-powered app redesign in May, dual listing on Frankfurt and Stuttgart exchanges in June, and a healthcare partnership with a Singapore telehealth provider.

Ryde Group (NYSE American: RYDE) has launched the Ryde Educational Merit Awards 2024 (REMA 2024), continuing its social initiative to support the educational aspirations of its driver-partners' children. The program, which began in 2020 during the pandemic, offers financial and social resources to empower future generations.

REMA 2024 aims to encourage high achievement, promote equal opportunities, and support Ryde driver-partners. Award recipients will receive up to SGD 2,000 in cash, SGD 500 in Book Vouchers, a free 1-year Ryde Transport Pass, a MacBook and an AirPods Pro. The initiative aligns with UN Sustainable Development Goals of providing quality education and reducing inequalities.

Previous recipients and their families have expressed gratitude for the program's impact on their educational journey. Ryde's CEO, Terence Zou, emphasized the company's long-term commitment to supporting driver-partners' children and helping them reach their fullest potential.

Ryde Group (NYSE American: RYDE), a leading technology platform for mobility and quick commerce based in Singapore, has announced the closing of a $4.5 million public offering on September 27, 2024. The offering consisted of 5,300,000 units, each comprising one Class A Ordinary Share and one common warrant to purchase an additional Class A Ordinary Share. The warrants have an exercise price of $0.85 per share, are immediately exercisable, and will expire in five years.

Maxim Group acted as the sole placement agent for this offering. The securities were offered through a registration statement on Form F-1 (File No. 333-282076), which was declared effective by the SEC on September 25, 2024. The final prospectus was filed with the SEC on September 27, 2024.

Ryde Group (NYSE American: RYDE), a leading technology platform for mobility and quick commerce based in Singapore, has announced the pricing of a public offering. The offering consists of 5,300,000 units, each comprising one Class A Ordinary Share and one warrant exercisable into one Ordinary Share. The units are priced at $0.85 each, aiming to raise gross proceeds of approximately $4.5 million.

The warrants will be immediately exercisable at an exercise price of $0.85 and will expire five years from the date of issuance. Maxim Group is acting as the sole placement agent for the offering, which is expected to close on September 27, 2024, subject to customary closing conditions. A registration statement on Form F-1 related to the offering has been filed with the SEC and was declared effective on September 25, 2024.

Ryde Group (NYSE American: RYDE), a leading technology platform for mobility and quick commerce, has addressed recent share price volatility, stating that the company is unaware of any operational developments or material events causing the fluctuations. CEO Terence Zou reaffirmed the company's strong fundamentals and commitment to sustainable growth, highlighting key developments since their NYSE listing in March 2024:

1. AI-powered app redesign in May 2024
2. Dual listing on Frankfurt and Stuttgart Stock Exchanges in June 2024
3. Healthcare partnership with a telehealth provider in June 2024
4. Launch of Ryde Empowers initiative in July 2024
5. Strategic partnership with Singlife financial services in August 2024

The company emphasized that key management and shareholders have not divested any shares, demonstrating confidence in Ryde's future prospects and growth strategy.

Ryde Group (NYSE American: RYDE) has announced a strategic partnership with Singlife, a Singaporean financial services company, to enhance ride-sharing safety and protection. The collaboration introduces RydeSafe, offering complimentary coverage until September 30, 2024, including:

• S$15,000 payout for death in road accidents
• Up to S$15,000 for total and permanent disabilities
• Up to S$1,000 for accident-related injuries
• S$20 in RydeCoins for emergency assistance

This partnership aims to create innovative products combining mobility and financial services, providing a seamless experience for users. Terence Zou, CEO of Ryde, emphasized the partnership's alignment with their goal of prioritizing user protection and safety.

Ryde Group (NYSE American: RYDE) has launched Ryde Empowers, an initiative to support local talent in Singapore. The program focuses on three key pillars: raising public awareness, sharing inspiring stories, and providing financial support. Singaporean professional tennis player Sarah Pang is the first champion of the program.

Ryde Empowers aims to nurture athletes, community service leaders, artists, and musicians, helping them excel nationally and internationally. The initiative aligns with UN Sustainable Development Goals to promote good health and well-being and reduce inequalities.

Sarah Pang's journey exemplifies the spirit of excellence Ryde Empowers celebrates. Despite obstacles, she broke into the top 1% of players in the Women's Tennis Association (WTA) rankings and was recently selected as a fellow of the U.S. State Department's Global Sports Mentorship Program.

Ryde Group (NYSE American: RYDE) has unveiled its 7 Driver Commitments initiative to enhance the experience of its driver-partners. The commitments include:

1. Fair Earnings: Transparent pricing and 0% commission for private hire and taxi drivers.
2. Safety First: Comprehensive safety features.
3. Professional Development: Continuous training and resources.
4. Dedicated Support: Multiple support channels.
5. Job Flexibility: Empowering drivers to choose jobs and set hours.
6. Active Engagement: Listening to driver feedback and recognizing contributions.
7. Sustainability: Promoting eco-friendly practices.

Terence Zou, Founder, Chairman, and CEO of Ryde Group, emphasized the company's dedication to ensuring a first-class driving experience with cutting-edge tech features, supportive policies, and fair earnings.

Ryde Group (NYSE American: RYDE), a prominent mobility and commerce tech platform, announced a partnership with Mobile-health Network Solutions (Nasdaq: MNDR), the first US-listed telehealth provider in Asia Pacific. This collaboration aims to offer Ryde’s driver-partners and their families access to affordable telemedicine services, enhancing their well-being while on the road. Benefits include 24/7 telemedicine consultations at members' rates and joint marketing campaigns to boost brand awareness. The partnership is expected to strengthen Ryde's position as a leading mobility app and increase patient inflow for Mobile-health Network Solutions.