Vahanna Tech Edge Acquisition I Corp. Announces Anticipation of Continuation as a Business Company Incorporated under the Laws of the British Virgin Islands
Summary
NEW YORK--(BUSINESS WIRE)--Vahanna Tech Edge Acquisition I Corp. (NASDAQ: VHNAU, VHNA, VHNAW) (“Vahanna”), a special purpose acquisition company, announced today that, as of August 23, 2023, the redemption deadline in connection with the extraordinary general meeting of shareholders to approve the proposed business combination with Roadzen, Inc., holders of at least 12,000,000 Class A ordinary shares have elected to redeem their shares. 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 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 Registration Statement. This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.