NEW YORK - Aug. 15, 2023 (GLOBE NEWSWIRE) -- Vahanna Tech Edge Acquisition I Corp. (Nasdaq: VHNAU, VHNA, VHNAW) (“Vahanna”), a publicly traded special purpose acquisition company, today announced that it will hold an extraordinary general meeting of shareholders of Vahanna at 10:00 a.m., New York time, on August 25, 2023 (the “Extraordianry General Meeting”) to vote on the proposed business combination (the “Business Combination”) with Roadzen, Inc. (“Roadzen” or the “Company”), a global insurance technology company on a mission to transform global auto insurance powered by advanced AI. Subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement, the combined company will be renamed "Roadzen Inc." (Nasdaq: RDZN, RDZNW) following the closing.
The registration statement on Form S-4 (File No. 333-269747) containing a proxy statement/prospectus (the "Proxy Statement/Prospectus") relating to the Business Combination filed by Vahanna with the U.S. Securities and Exchange Commission (the "SEC") was declared effective by the SEC on August 14, 2023. The mailing of the Proxy Statement/Prospectus and related materials was commenced on August 14, 2023 to shareholders of Vahanna as of the record date established for voting on the Business Combination (the "Record Date").
Vahanna’s Extraordinary General Meeting will be held at 10:00 a.m., New York time, on August 25, 2023 at the offices of Winston & Strawn LLP at 200 Park Avenue, New York, New York 10166 and virtually at https://www.cstproxy.com/vahannatech/sm2023. Shareholders of VHNA as of the Record Date are entitled to notice of, and to vote at, the Extraordinary General Meeting.
Advisors
Winston & Strawn LLP is acting as legal counsel to Roadzen. Mizuho Securities USA LLC (“Mizuho”) and Pi Capital LLC are acting as financial advisors to Vahanna. Gibson, Dunn & Crutcher LLP and DMD Advocates are acting as legal counsels to Vahanna. Sidley Austin LLP is acting as legal counsel to Mizuho, and Sheumack GMA is acting as Fairness Opinion advisor to Vahanna’s board of directors.
About Vahanna
Vahanna Tech Edge Acquisition I Corp. is a blank check company incorporated on April 22, 2021 as a British Virgin Islands business company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
About Roadzen
Roadzen is a leading insurance technology company on a mission to transform global auto insurance powered by advanced AI. At the heart of Roadzen’s mission is its commitment to create transparency, efficiency, and a seamless experience for the millions of end customers who use its products through insurer, OEM, and fleet (such as trucking, delivery, and commercial fleets) partners. Roadzen seeks to accomplish this by combining computer vision, telematics and AI with continually updated data sources to provide a more efficient, effective and informed way of building auto insurance products, processing claims and improving driver safety. Roadzen has been recognized as a top innovator in the insurtech space by Forbes and Financial Express (India).
Important Information About the Business Combination and Where to Find It
In connection with the Business Combination, Vahanna has filed a registration statement on Form S-4 with the SEC, which includes a proxy statement/prospectus. The registration statement has been declared effective and the proxy statement/prospectus will be distributed to Vahanna's shareholders in connection with its solicitation of proxies for the vote by Vahanna’s shareholders with respect to the Business Combination and other matters as may be described in the registration statement, as well as the prospectus relating to the offer and sale of the securities to be issued in the Business Combination to certain of Roadzen’s shareholders. This press release does not contain all the information that should be considered concerning the Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Vahanna’s shareholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with Business Combination, as these materials will contain important information about Vahanna, Roadzen and the Business Combination.
The definitive proxy statement/prospectus and other relevant materials for the Business Combination will be mailed to the shareholders of Vahanna as of the Record Date. Shareholders can obtain copies of the definitive proxy statement and other documents filed with the SEC, without charge, at the SEC’s website at www.sec.gov, or by directing a request to Vahanna’s chief financial officer at 1230 Avenue of the Americas, 16th Floor, New York, NY 10020.
Participants in the Solicitation
Vahanna and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Vahanna’s shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Vahanna’s directors and officers in Vahanna’s filings with the SEC, including Vahanna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on April 14, 2023 (as amended by Amendment No. 1 thereto on April 27, 2023), and such information and names of Roadzen’s directors and executive officers are also included in the Registration Statement on Form S-4 filed with the SEC by Vahanna, which includes the proxy statement/prospectus of Vahanna for the Business Combination. Shareholders can obtain copies of Vahanna’s filings with the SEC, without charge, at the SEC’s website at www.sec.gov. Roadzen and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Vahanna in connection with the Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the Business Combination are included in the proxy statement/prospectus for the Business Combination.
