Ryde Group Launches $4.5 Million Public Offering

Ryde Group Limited Class A (RYDE) has released an update.

Ryde Group Ltd, a Singapore-based technology platform for mobility, has announced a public offering aiming to raise $4.5 million through the sale of 5.3 million units at $0.85 each, with units comprising Class A Ordinary Shares and warrants exercisable into Ordinary Shares. The offering, facilitated by Maxim Group LLC, is expected to close on September 27, 2024, with the warrants exercisable immediately at the same price and expiring after five years. This move by Ryde, known for its zero-commission policy empowering drivers, underscores its innovative approach in the on-demand carpooling and mobility space.

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