VAHANNA SHAREHOLDERS APPROVE ROADZEN BUSINESS COMBINATION

KUALA LUMPUR, Aug 29 (Bernama) -- Roadzen Inc (Roadzen) and Vahanna Tech Edge Acquisition I Corp (Vahanna), a publicly traded special purpose acquisition company, announced their previously declared business combination was approved at Vahanna’s shareholders special meeting on Aug 25.

In a statement, Roadzen said approximately 83 per cent of the shareholders voted in favour of the business combination.

It stated that subject to the satisfaction of customary closing conditions, the transaction is expected to close in September 2023.

The combined company will be renamed Roadzen Inc, and its shares and warrants are expected to begin trading on Nasdaq under the symbols “RDZN” and “RDZNW”, respectively, one day following the closing date.

Steve Carlson, who will serve as Roadzen’s Chairman following the closing of the business combination, said: “We believe that the company and its vertical AI narrative will remain captivating for years ahead.

“Roadzen's journey highlights rapid growth, solid foundations, and groundbreaking technology, all under the guidance of a visionary CEO and a stellar global team. As Roadzen cements its leadership in AI, mobility and insurance, we are thrilled to be listing this extraordinary company on Nasdaq.”

A global insurance technology company, Roadzen is on a mission to transform global auto insurance powered by advanced artificial intelligence (AI), with 400 employees across its global offices in the United States, India, the United Kingdom and France.

-- BERNAMA