Ryde Announces Pricing of US$1.6 million Registered Direct Offering Priced at-the-Market Under NYSE American Rules

Rhea-AI Summary

Ryde Group (NYSE American: RYDE), a Singapore-based mobility and quick commerce technology platform, has announced a registered direct offering of 6,422,000 Class A shares priced at $0.25 per share. The offering, conducted without a placement agent, is expected to raise gross proceeds of approximately $1.6 million.

The offering is being made under an effective shelf registration statement and is expected to close around September 10, 2025. The company plans to use the net proceeds for working capital and general corporate purposes. The offering is priced at-the-market under NYSE American rules.

Positive

• Raises $1.6 million in additional capital for working capital needs
• Offering executed without placement agent fees, reducing costs

Negative

• Significant dilution with 6,422,000 new shares being issued
• Low share price of $0.25 indicates potential market weakness

Insights

Capital Markets Analyst

Ryde's $1.6M direct offering at $0.25/share indicates possible cash needs amid concerning price dilution for current shareholders.

Ryde has announced a $1.6 million registered direct offering priced at-the-market, selling 6,422,000 Class A shares at just $0.25 per share. The pricing deserves particular attention as it potentially signals how investors currently value the company's shares. Without a placement agent involved, Ryde has arranged this offering directly with several investors, avoiding the typical 5-8% in placement fees, but also missing the wider market reach that comes with traditional underwriting.

The stated use of proceeds for "working capital and general corporate purposes" is notably vague and could indicate near-term cash flow concerns. This generic language often appears when companies need operational runway rather than pursuing strategic growth initiatives. The size of this offering is relatively small for a public company, which could suggest either limited investor interest or a calculated decision to minimize dilution while addressing immediate capital needs.

For existing shareholders, this offering represents immediate dilution at what appears to be a challenging price point. The lack of specific growth initiatives tied to the funding raises questions about the company's current financial position. Without a placement agent, the company has saved on fees but potentially sacrificed broader market validation. Investors should closely monitor upcoming financial disclosures to better understand Ryde's cash position and burn rate that necessitated this capital raise.

SINGAPORE, SG / ACCESS Newswire / September 10, 2025 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce headquartered in Singapore, announced that it has entered into a securities purchase agreement with several investors to purchase 6,422,000 Class A shares at an offering price of US$0.25, for gross proceeds of approximately US$1.6 million (the "Offering"), before deducting offering expenses, in a registered direct offering priced at-the-market under NYSE American rules.

The Company did not engage any placement agent for the Offering.

The Company currently intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about September 10, 2025 (the "Closing Date"), subject to the satisfaction of customary closing conditions.

The Offering is being made pursuant to an effective shelf registration statement on Form F-3, (File No. 333-288587) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission ("SEC") on September 2, 2025. A prospectus supplement relating to the securities to be issued in the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and recognised as the world's FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.

Contacts

For Media Relations:

Media Team
Ryde Group Ltd
Email: media@rydesharing.com

For Investor Relations:
Investor Relations Team
Ryde Group Ltd
Email: investor@rydesharing.com

FORWARD-LOOKING STATEMENTS

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Ryde Group

View the original press release on ACCESS Newswire

FAQ

What is the size and price of Ryde's (RYDE) September 2025 offering?

Ryde is offering 6,422,000 Class A shares at $0.25 per share, raising approximately $1.6 million in gross proceeds.

How will Ryde (RYDE) use the proceeds from its $1.6M offering?

Ryde intends to use the net proceeds for working capital and general corporate purposes.

When is Ryde's (RYDE) $1.6M registered direct offering expected to close?

The offering is expected to close on or about September 10, 2025, subject to customary closing conditions.

Did Ryde (RYDE) engage a placement agent for its September 2025 offering?

No, Ryde did not engage any placement agent for the offering.

What type of registration statement is Ryde (RYDE) using for this offering?

The offering is being made under an effective shelf registration statement on Form F-3 (File No. 333-288587), declared effective by the SEC on September 2, 2025.