Vahanna Tech Edge Acquisition I Shares Rise 14% After Hldrs OK Roadzen Combination

Dow Jones2023-08-29

By Stephen Nakrosis

Shares of blank check company Vahanna Tech Edge Acquisition I were trading higher on the Nasdaq on Monday, following news the company's shareholders approved a business combination with insurance technology company Roadzen.

At 1:01 p.m. ET, shares of the special purpose acquisition company were trading 14% higher, at $10.96 a share. Trade in the stock had been paused earlier in the day due to volatility.

Shares of the combined company, which would be renamed Roadzen Inc., are expected to begin trading on Nasdaq under the symbol RDZN, following the close of the deal, which is slated to occur next month.

Vahanna Tech Edge Acquisition I filed for its initial public offering in November 2021. The two companies announced plans for their business combination in February.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

August 28, 2023 13:12 ET (17:12 GMT)

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