Ryde Group Ltd, a prominent technology platform for mobility and quick commerce based in Singapore, has successfully completed a public offering, closing on 5,300,000 units (the “Units”). Each unit consists of one Class A Ordinary Share with a par value of $0.0002 and one common warrant, which grants the holder the right to purchase an additional Class A Ordinary Share. The common warrants come with an exercise price of $0.85 per share, are immediately exercisable, and will expire five years from the date of issuance.
The gross proceeds from the offering, prior to deducting placement agent fees and other expenses, amount to approximately $4.5 million. The closing occurred on September 27, 2024, following the fulfillment of customary closing conditions.
Maxim Group LLC served as the sole placement agent for this offering.
The securities mentioned are offered under a registration statement on Form F-1 (File No. 333-282076), which was declared effective by the Securities and Exchange Commission (SEC) on September 25, 2024. The offering is conducted solely through a prospectus that is part of the Registration Statement. The final prospectus related to this offering was filed with the SEC on September 27, 2024, and can be obtained from Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, or by calling (212) 895-3745.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be
About Ryde Group Ltd
Ryde is a super mobility app founded in Singapore and also the world’s FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE American, FSE and XSTU, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take 0% commission, ensuring that more of every hard-earned dollar goes to drivers on our platform. For more information, please visit https://rydesharing.com/ to learn more.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and expectations on the timing and completion of the offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the final prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
