Vahanna Tech Edge Acquisition Shares Soar 24% After Business Combination Deadline Extended

Dow Jones2023-08-26

By Adam L. Cataldo

Shares of Vahanna Tech Edge Acquisition I rallied following the market's close after the company said it had more time to complete its business combination with Roadzen.

The stock rose 24% to $11.99 in after-hours trading on Friday. The shares ended the regular trading session down 4.9% at $9.65. Vahanna's stock is down 6.13% this year.

The New York-based blank-check company was given a one-month extension to Sept. 26 to consummate a merger with Roadzen, a technology infrastructure company. Vahanna said its sponsor deposited an aggregate amount of $225,000 into its account, representing approximately $5.38 per public share, to extend the deadline.

This is the fourth extension Vahanna has received since the proposed merger was announced in February.

Write to Adam Cataldo at adam.cataldo@wsj.com

(END) Dow Jones Newswires

August 25, 2023 18:15 ET (22:15 GMT)

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Cataldo \n\n\n \n\n\n  Shares of Vahanna Tech Edge Acquisition I rallied following the market's close after the company said it had more time to complete its business combination with Roadzen. \n\n\n  The stock rose 24% to $11.99 in after-hours trading on Friday. The shares ended the regular trading session down 4.9% at $9.65. Vahanna's stock is down 6.13% this year. \n\n\n  The New York-based blank-check company was given a one-month extension to Sept. 26 to consummate a merger with Roadzen, a technology infrastructure company. 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