[424B3] Kazia Therapeutics Limited American Prospectus Filed Pursuant to Rule 424(b)(3)
Ryde Group Ltd (NYSE American: RYDE) has filed a Form F-3 shelf registration to give itself maximum flexibility to raise capital over the next three years.
- Primary shelf: up to US$100 million in Class A ordinary shares, debt securities, warrants, rights or units that may be sold directly, or through underwriters, dealers or agents.
- Rule 415 eligibility: the company鈥檚 public float is only US$4.768 million (14.9 million non-affiliate shares at US$0.32 on 7 Jul 2025). Under Instruction I.B.5, Ryde cannot sell more than one-third of that float (鈮圲S$1.6 million) in any 12-month period until its market value exceeds US$75 million.
- Carry-over securities: (i) 5.3 million Class A shares issuable on exercise of warrants sold in the Sept 2024 follow-on offering; (ii) conversion of the prior Form F-1 registration (File No. 333-282076) into the new shelf.
- Resale component: 8.03 million Class A shares held by Octava Fund Ltd may be offered for secondary sale. Ryde will receive no proceeds.
The filing refreshes capital-raising capacity after a series of corporate actions:
- US$12 million IPO (Mar 2024) and US$4.5 million follow-on (Sept 2024).
- Secondary listings on Frankfurt and Stuttgart (Jun 2024) and several new subsidiaries (BVI and Singapore) to support expansion.
- 40 % stake in Atoll Discovery (Jun 2025) paid with 4.85 million Ryde shares.
Business snapshot. Ryde is a Cayman Islands holding company whose operating subsidiaries in Singapore run a 鈥渟uper mobility app鈥� offering car-pooling, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) and quick-commerce parcel delivery (RydeSEND). Key strengths cited include dual-segment platform, scalable technology and experienced management.
Key risks spelled out in the prospectus:
- Early-stage growth and continuing losses; profitability hinges on reducing driver/consumer incentives.
- Intense competition from Grab, Gojek, ComfortDelGro, Lalamove and others.
- Regulatory overhang (Platform Workers Act 2024, driver classification, data privacy, AML, LTA licensing).
- Micro-cap status (US$0.32 share price), potential NYSE American listing compliance challenges and dilution from warrants, resale shares and future offerings.
- Technology, cybersecurity and brand-reputation risks inherent in ride-hailing and delivery models.
Use of proceeds will be detailed in future prospectus supplements, but typical purposes include working capital, technology investments and potential acquisitions. The company鈥檚 ability to tap the full US$100 million depends on a significant improvement in market capitalization or uplisting.
Overall, the F-3 positions Ryde to raise incremental capital quickly, continue warrant coverage and permit shareholder liquidity, while highlighting substantial competitive, operational and regulatory headwinds that investors must weigh.
Ryde Group Ltd (NYSE American: RYDE) ha depositato una registrazione shelf di tipo Form F-3 per garantirsi la massima flessibilit脿 nel raccogliere capitale nei prossimi tre anni.
- Shelf principale: fino a 100 milioni di dollari USA in azioni ordinarie di Classe A, titoli di debito, warrant, diritti o unit脿 che possono essere venduti direttamente o tramite sottoscrittori, dealer o agenti.
- Idoneit脿 alla Regola 415: il flottante pubblico della societ脿 猫 solo di 4,768 milioni di dollari USA (14,9 milioni di azioni non affiliate a 0,32 USD al 7 luglio 2025). Secondo l'Istruzione I.B.5, Ryde non pu貌 vendere pi霉 di un terzo di questo flottante (circa 1,6 milioni di dollari) in un periodo di 12 mesi finch茅 il valore di mercato non supera i 75 milioni di dollari.
- Titoli da riportare: (i) 5,3 milioni di azioni di Classe A emettibili tramite esercizio di warrant venduti nell鈥檕fferta di follow-on di settembre 2024; (ii) conversione della precedente registrazione Form F-1 (File No. 333-282076) nel nuovo shelf.
- Componente di rivendita: 8,03 milioni di azioni di Classe A detenute da Octava Fund Ltd possono essere offerte per vendita secondaria. Ryde non ricever脿 proventi da questa operazione.
La registrazione aggiorna la capacit脿 di raccolta dopo una serie di azioni societarie:
- IPO da 12 milioni di dollari (marzo 2024) e follow-on da 4,5 milioni di dollari (settembre 2024).
- Quotazioni secondarie a Francoforte e Stoccarda (giugno 2024) e diverse nuove controllate (BVI e Singapore) per supportare l鈥檈spansione.
- Partecipazione del 40% in Atoll Discovery (giugno 2025) pagata con 4,85 milioni di azioni Ryde.
Profilo aziendale. Ryde 猫 una holding con sede nelle Isole Cayman le cui controllate operative a Singapore gestiscono un 鈥渟uper app di mobilit脿鈥� che offre car-pooling, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) e consegne rapide di pacchi (RydeSEND). I punti di forza citati includono una piattaforma a doppio segmento, tecnologia scalabile e management esperto.
Principali rischi evidenziati nel prospetto:
- Crescita in fase iniziale e perdite continue; la redditivit脿 dipende dalla riduzione degli incentivi per autisti e consumatori.
- Concorrenza intensa da parte di Grab, Gojek, ComfortDelGro, Lalamove e altri.
- Incertezze normative (Platform Workers Act 2024, classificazione degli autisti, privacy dei dati, AML, licenze LTA).
- Status micro-cap (0,32 USD per azione), potenziali sfide di conformit脿 alla quotazione NYSE American e diluizione da warrant, azioni di rivendita e future offerte.
- Rischi tecnologici, di cybersecurity e reputazionali inerenti ai modelli di ride-hailing e consegna.
Utilizzo dei proventi sar脿 dettagliato in supplementi prospettici futuri, ma gli scopi tipici includono capitale circolante, investimenti tecnologici e potenziali acquisizioni. La capacit脿 di raccogliere l鈥檌ntero importo di 100 milioni di dollari dipende da un significativo miglioramento della capitalizzazione di mercato o da un uplisting.
In sintesi, il Form F-3 consente a Ryde di raccogliere capitale aggiuntivo rapidamente, mantenere la copertura dei warrant e permettere liquidit脿 agli azionisti, evidenziando al contempo importanti sfide competitive, operative e regolamentari che gli investitori devono considerare.
Ryde Group Ltd (NYSE American: RYDE) ha presentado una registraci贸n shelf Form F-3 para otorgarse m谩xima flexibilidad para recaudar capital durante los pr贸ximos tres a帽os.
- Shelf primario: hasta 100 millones de d贸lares estadounidenses en acciones ordinarias Clase A, valores de deuda, warrants, derechos o unidades que pueden venderse directamente o a trav茅s de suscriptores, distribuidores o agentes.
- Elegibilidad bajo la Regla 415: el flotante p煤blico de la empresa es solo de 4.768 millones de d贸lares (14.9 millones de acciones no afiliadas a 0.32 USD al 7 de julio de 2025). Seg煤n la Instrucci贸n I.B.5, Ryde no puede vender m谩s de un tercio de ese flotante (鈮�1.6 millones de d贸lares) en cualquier per铆odo de 12 meses hasta que su valor de mercado supere los 75 millones de d贸lares.
- Valores trasladados: (i) 5.3 millones de acciones Clase A emitibles mediante el ejercicio de warrants vendidos en la oferta follow-on de septiembre 2024; (ii) conversi贸n del registro previo Form F-1 (Archivo No. 333-282076) al nuevo shelf.
- Componente de reventa: 8.03 millones de acciones Clase A en posesi贸n de Octava Fund Ltd pueden ofrecerse para venta secundaria. Ryde no recibir谩 ingresos por esta operaci贸n.
La presentaci贸n actualiza la capacidad de recaudaci贸n tras una serie de acciones corporativas:
- IPO de 12 millones de d贸lares (marzo 2024) y follow-on de 4.5 millones de d贸lares (septiembre 2024).
- Listados secundarios en Frankfurt y Stuttgart (junio 2024) y varias nuevas subsidiarias (BVI y Singapur) para apoyar la expansi贸n.
- Participaci贸n del 40% en Atoll Discovery (junio 2025) pagada con 4.85 millones de acciones Ryde.
Resumen del negocio. Ryde es una compa帽铆a holding de las Islas Caim谩n cuyas subsidiarias operativas en Singapur gestionan una 鈥渟uper app de movilidad鈥� que ofrece carpooling, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) y entrega r谩pida de paquetes (RydeSEND). Las fortalezas clave incluyen plataforma de doble segmento, tecnolog铆a escalable y gesti贸n experimentada.
Riesgos clave destacados en el prospecto:
- Crecimiento en etapa temprana y p茅rdidas continuas; la rentabilidad depende de reducir incentivos para conductores y consumidores.
- Competencia intensa de Grab, Gojek, ComfortDelGro, Lalamove y otros.
- Inc贸gnitas regulatorias (Ley de Trabajadores de Plataforma 2024, clasificaci贸n de conductores, privacidad de datos, AML, licencias LTA).
- Estado micro-cap (0.32 USD por acci贸n), posibles desaf铆os de cumplimiento en NYSE American y diluci贸n por warrants, acciones en reventa y futuras ofertas.
- Riesgos tecnol贸gicos, de ciberseguridad y reputaci贸n inherentes a los modelos de ride-hailing y entrega.
Uso de los fondos se detallar谩 en suplementos futuros del prospecto, pero los prop贸sitos t铆picos incluyen capital de trabajo, inversiones tecnol贸gicas y adquisiciones potenciales. La capacidad de utilizar la totalidad de los 100 millones de d贸lares depende de una mejora significativa en la capitalizaci贸n de mercado o un uplisting.
En conjunto, el Form F-3 posiciona a Ryde para recaudar capital incremental r谩pidamente, mantener la cobertura de warrants y permitir liquidez a los accionistas, mientras resalta importantes desaf铆os competitivos, operativos y regulatorios que los inversores deben considerar.
Ryde Group Ltd (NYSE American: RYDE)電� 頄ロ泟 3雲勱皠 鞛愲掣 臁半嫭鞚� 斓滊寑 鞙犾棸靹膘潉 頇曤炒頃橁赴 鞙勴暣 Form F-3 靹犽皹 霌彪鞚� 鞝滌稖頄堨姷雼堧嫟.
- 欤检殧 靹犽皹: 韥措灅鞀� A 氤错喌欤�, 毂勲 歃濌秾, 鞗岆煱韸�, 甓岆Μ 霕愲姅 雼渼搿� 斓滊寑 1鞏� 雼煬旯岇 歆侅爲 韺愲Г頃橁卑雮� 鞚胳垬鞚�, 霐滊煬 霕愲姅 雽�毽澑鞚� 韱淀暣 韺愲Г頃� 靾� 鞛堨姷雼堧嫟.
- 攴滌箼 415 鞝侁博靹�: 須岇偓鞚� 瓿店皽 鞙犿喌 欤检嫕 臧�旃橂姅 雼 476.8毵� 雼煬(2025雲� 7鞗� 7鞚� 旮办 牍勱硠鞐� 欤检嫕 1,490毵� 欤�, 欤茧嫻 0.32雼煬)鞛呺媹雼�. 歆�旃� I.B.5鞐� 霐半澕 Ryde電� 鞁滌灔 臧�旃橁皜 7,500毵� 雼煬毳� 齑堦臣頃� 霑岅箤歆� 12臧滌洈 霃欖晥 鞚� 鞙犿喌 欤检嫕鞚� 3攵勳潣 1(鞎� 160毵� 雼煬) 鞚挫儊鞚� 韺愲Г頃� 靾� 鞐嗢姷雼堧嫟.
- 鞚挫洈 歃濌秾: (i) 2024雲� 9鞗� 頉勳啀 瓿惦鞐愳劀 韺愲Г霅� 鞗岆煱韸� 頄夓偓搿� 氚滍枆 臧�電ロ暅 530毵� 韥措灅鞀� A 欤检嫕; (ii) 鞚挫爠 Form F-1 霌彪(File No. 333-282076)鞚� 靸堧鞖� 靹犽皹鞙茧鞚� 鞝勴櫂.
- 鞛寪毵� 甑劚 鞖旍唽: Octava Fund Ltd臧� 氤挫湢頃� 803毵� 韥措灅鞀� A 欤检嫕鞚� 2彀� 韺愲Г鞖╈溂搿� 鞝滉车霅� 靾� 鞛堨溂氅�, Ryde電� 靾橃澋鞚� 氚涭 鞎婌姷雼堧嫟.
鞚措矆 鞝滌稖鞚� 鞚茧牗鞚� 旮办梾 頇滊彊 鞚错泟 鞛愲掣 臁半嫭 電ル牓鞚� 臧膘嫚頃╇媹雼�:
- 1,200毵� 雼煬 IPO(2024雲� 3鞗�) 氚� 450毵� 雼煬 頉勳啀 瓿惦(2024雲� 9鞗�).
- 頂勲瀾韥懜毳错姼 氚� 鞀堩埇韸戈皜毳错姼鞐愳劀鞚� 2彀� 靸侅灔(2024雲� 6鞗�) 氚� 頇曥灔鞚� 歆�鞗愴晿旮� 鞙勴暅 鞐煬 鞁犼窚 鞛愴殞靷�(BVI 氚� 鞁标皜韽ゴ).
- Atoll Discovery 歆�攵� 40%(2025雲� 6鞗�), 485毵� Ryde 欤检嫕鞙茧 歆�旮�.
靷梾 臧滌殧. Ryde電� 旒�鞚措Ж 鞝滊弰鞐� 氤胳偓毳� 霊� 歆�欤柬殞靷 鞁标皜韽ゴ鞐� 鞛堧姅 鞖挫榿 鞛愴殞靷皜 旃错拃, 霛检澊霌滍棨鞚茧(RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) 氚� 牍犽ジ 氚办啞(RydeSEND)鞚� 鞝滉车頃橂姅 鈥滌妶韻� 氇箤毽嫲 鞎扁�濎潉 鞖挫榿頃╇媹雼�. 欤检殧 臧曥爯鞙茧電� 鞚挫 靹戈犯毹柬姼 頂岆灚韽�, 頇曥灔 臧�電ロ暅 旮办垹 氚� 瓴巾棙 毵庫潃 瓴届榿歆勳澊 鞏戈笁霅橃棃鞀惦媹雼�.
韴瀽靹る獏靹滌棎 氇呾嫓霅� 欤检殧 鞙勴棙:
- 齑堦赴 靹膘灔 雼硠 氚� 歆�靻嶌爜鞚� 靻愳嫟; 靾橃澋靹膘潃 鞖挫爠鞛� 氚� 靻岆箘鞛� 鞚胳劶韹半笇 於曥唽鞐� 雼牑 鞛堨潓.
- Grab, Gojek, ComfortDelGro, Lalamove 霌标臣鞚� 旃橃棿頃� 瓴届焷.
- 攴滌牅 攵堩檿鞁れ劚(2024雲� 頂岆灚韽� 攴茧鞛愲矔, 鞖挫爠鞛� 攵勲, 雿办澊韯� 頂勲澕鞚措矂鞁�, 鞛愱笀靹疙儊氚╈, LTA 霛检澊靹犾姢).
- 毵堨澊韥旌� 靸來儨(欤茧嫻 0.32雼煬), NYSE American 靸侅灔 攴滌爼 欷�靾� 氍胳牅 臧�電レ劚 氚� 鞗岆煱韸�, 鞛寪毵� 欤检嫕, 氙鸽灅 瓿惦鞐� 霐半ジ 頋劃 鞙勴棙.
- 霛检澊霌滍棨鞚茧 氚� 氚办啞 氇嵏鞐� 雮挫灛霅� 旮办垹, 靷澊氩� 氤挫晥 氚� 敫岆灉霌� 韽夗寪 鞙勴棙.
鞛愱笀 靷毄鞚� 頄ロ泟 歃濍炒霅� 靹る獏靹滌棎靹� 鞛愳劯頌� 雼る（瓴犾毵�, 鞚茧皹鞝侅溂搿� 鞖挫爠鞛愲掣, 旮办垹 韴瀽 氚� 鞛犾灛鞝� 鞚胳垬鞐� 靷毄霅� 鞓堨爼鞛呺媹雼�. 1鞏� 雼煬 鞝勳暋 臁半嫭鞚� 鞁滉皜齑濎暋鞚� 靸侂嫻頃� 臧滌劆 霕愲姅 靸侅渼鞁滌灔 鞚挫爠鞐� 雼牑 鞛堨姷雼堧嫟.
鞝勲皹鞝侅溂搿� Form F-3電� Ryde臧� 於旉皜 鞛愲掣鞚� 鞁犾啀頌� 臁半嫭頃橁碃 鞗岆煱韸� 旎る矂毽毳� 鞙犾頃橂┌ 欤检＜ 鞙犽彊靹膘潉 項堨毄頃橂姅 霃欖嫓鞐� 韴瀽鞛愱皜 鞁犾頌� 瓿犽牑頃挫暭 頃� 靸侂嫻頃� 瓴届焷, 鞖挫榿 氚� 攴滌牅 鞙勴棙鞚� 攵�臧來暕雼堧嫟.
Ryde Group Ltd (NYSE American : RYDE) a d茅pos茅 un enregistrement shelf Form F-3 afin de se donner une flexibilit茅 maximale pour lever des capitaux au cours des trois prochaines ann茅es.
- Shelf principal : 箩耻蝉辩耻'脿 100 millions de dollars US en actions ordinaires de classe A, titres de dette, bons de souscription, droits ou unit茅s pouvant 锚tre vendus directement ou par l'interm茅diaire de souscripteurs, courtiers ou agents.
- 脡ligibilit茅 脿 la r猫gle 415 : le flottant public de la soci茅t茅 est seulement de 4,768 millions de dollars US (14,9 millions d鈥檃ctions non affili茅es 脿 0,32 USD au 7 juillet 2025). Selon l鈥橧nstruction I.B.5, Ryde ne peut pas vendre plus d鈥檜n tiers de ce flottant (鈮�1,6 million de dollars) sur une p茅riode de 12 mois tant que sa capitalisation boursi猫re ne d茅passe pas 75 millions de dollars.
- Titres report茅s : (i) 5,3 millions d鈥檃ctions de classe A pouvant 锚tre 茅mises 脿 l鈥檈xercice de bons de souscription vendus lors de l鈥檕ffre de suivi de septembre 2024 ; (ii) conversion de l鈥檈nregistrement Form F-1 ant茅rieur (dossier n掳 333-282076) dans le nouveau shelf.
- Composante de revente : 8,03 millions d鈥檃ctions de classe A d茅tenues par Octava Fund Ltd peuvent 锚tre propos茅es 脿 la vente secondaire. Ryde ne recevra aucun produit de cette op茅ration.
Le d茅p么t actualise la capacit茅 de lev茅e de fonds apr猫s une s茅rie d鈥檃ctions corporatives :
- IPO de 12 millions de dollars US (mars 2024) et offre de suivi de 4,5 millions de dollars US (septembre 2024).
- Cotations secondaires 脿 Francfort et Stuttgart (juin 2024) et plusieurs nouvelles filiales (BVI et Singapour) pour soutenir l鈥檈xpansion.
- Participation de 40 % dans Atoll Discovery (juin 2025) pay茅e avec 4,85 millions d鈥檃ctions Ryde.
Pr茅sentation de l鈥檈ntreprise. Ryde est une soci茅t茅 holding des 卯les Ca茂mans dont les filiales op茅rationnelles 脿 Singapour g猫rent une 芦 super application de mobilit茅 禄 offrant covoiturage, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) et livraison rapide de colis (RydeSEND). Les points forts cit茅s incluent une plateforme 脿 double segment, une technologie 茅volutive et une direction exp茅riment茅e.
Principaux risques mentionn茅s dans le prospectus :
- Croissance en phase initiale et pertes continues ; la rentabilit茅 d茅pend de la r茅duction des incitations aux conducteurs et aux consommateurs.
- Concurrence intense de la part de Grab, Gojek, ComfortDelGro, Lalamove et autres.
- Incertitudes r茅glementaires (Platform Workers Act 2024, classification des conducteurs, confidentialit茅 des donn茅es, AML, licences LTA).
- Statut micro-cap (0,32 USD par action), d茅fis potentiels de conformit茅 脿 la cotation NYSE American et dilution due aux bons de souscription, actions revendues et futures 茅missions.
- Risques technologiques, cybers茅curit茅 et r茅putation de marque inh茅rents aux mod猫les de ride-hailing et de livraison.
Utilisation des fonds sera d茅taill茅e dans de futurs suppl茅ments au prospectus, mais les usages typiques incluent le fonds de roulement, les investissements technologiques et les acquisitions potentielles. La capacit茅 de lever l鈥檌nt茅gralit茅 des 100 millions de dollars d茅pend d鈥檜ne am茅lioration significative de la capitalisation boursi猫re ou d鈥檜n passage 脿 un march茅 sup茅rieur.
Dans l鈥檈nsemble, le Form F-3 positionne Ryde pour lever rapidement des capitaux suppl茅mentaires, maintenir la couverture des bons de souscription et permettre la liquidit茅 des actionnaires, tout en soulignant des vents contraires importants sur le plan concurrentiel, op茅rationnel et r茅glementaire que les investisseurs doivent prendre en compte.
Ryde Group Ltd (NYSE American: RYDE) hat eine Form F-3 Shelf-Registrierung eingereicht, um sich maximale Flexibilit盲t f眉r die Kapitalaufnahme in den n盲chsten drei Jahren zu sichern.
- Prim盲rer Shelf: Bis zu 100 Millionen US-Dollar in Stammaktien der Klasse A, Schuldverschreibungen, Warrants, Bezugsrechten oder Einheiten, die direkt oder 眉ber Underwriter, H盲ndler oder Agenten verkauft werden k枚nnen.
- Regel 415-Eignung: Der 枚ffentliche Streubesitz des Unternehmens betr盲gt nur 4,768 Millionen US-Dollar (14,9 Millionen nicht verbundene Aktien zu 0,32 USD am 7. Juli 2025). Nach Instruktion I.B.5 darf Ryde nicht mehr als ein Drittel dieses Streubesitzes (鈮�1,6 Millionen USD) innerhalb von 12 Monaten verkaufen, bis der Marktwert 75 Millionen USD 眉bersteigt.
- 脺bertragene Wertpapiere: (i) 5,3 Millionen Klasse-A-Aktien, die durch Aus眉bung von Warrants aus dem Folgeangebot im September 2024 ausgegeben werden k枚nnen; (ii) Umwandlung der vorherigen Form F-1-Registrierung (Datei Nr. 333-282076) in den neuen Shelf.
- Wiederverkaufskomponente: 8,03 Millionen Klasse-A-Aktien, die von Octava Fund Ltd gehalten werden, k枚nnen zum Sekund盲rverkauf angeboten werden. Ryde erh盲lt keine Erl枚se daraus.
Die Einreichung erneuert die Kapitalaufnahmef盲higkeit nach einer Reihe von Unternehmensma脽nahmen:
- 12 Millionen USD IPO (M盲rz 2024) und 4,5 Millionen USD Folgeangebot (September 2024).
- Sekund盲rnotierungen in Frankfurt und Stuttgart (Juni 2024) sowie mehrere neue Tochtergesellschaften (BVI und Singapur) zur Unterst眉tzung der Expansion.
- 40 % Beteiligung an Atoll Discovery (Juni 2025), bezahlt mit 4,85 Millionen Ryde-Aktien.
骋别蝉肠丑盲蹿迟蝉眉产别谤蝉颈肠丑迟. Ryde ist eine Holdinggesellschaft auf den Cayman Islands, deren operative Tochtergesellschaften in Singapur eine 鈥濻uper-Mobilit盲ts-App鈥� betreiben, die Carpooling, Ride-Hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) und schnelle Paketzustellung (RydeSEND) anbietet. Zu den wichtigsten St盲rken z盲hlen eine Dual-Segment-Plattform, skalierbare Technologie und erfahrenes Management.
Wesentliche Risiken im Prospekt:
- Fr眉he Wachstumsphase und anhaltende Verluste; Profitabilit盲t h盲ngt von der Reduzierung von Anreizen f眉r Fahrer und Verbraucher ab.
- Intensiver Wettbewerb durch Grab, Gojek, ComfortDelGro, Lalamove und andere.
- Regulatorische Unsicherheiten (Platform Workers Act 2024, Fahrerklassifizierung, Datenschutz, AML, LTA-Lizenzen).
- Micro-Cap-Status (0,32 USD Aktienkurs), potenzielle NYSE American-Listing-Compliance-Herausforderungen und Verw盲sserung durch Warrants, Wiederverkaufsaktien und zuk眉nftige Angebote.
- Technologie-, Cybersecurity- und Markenreputationsrisiken, die in Ride-Hailing- und Zustellmodellen inh盲rent sind.
Verwendung der Erl枚se wird in zuk眉nftigen Prospekterg盲nzungen detailliert, typische Zwecke sind jedoch Betriebskapital, Technologieinvestitionen und potenzielle Akquisitionen. Die F盲higkeit des Unternehmens, die vollen 100 Millionen USD zu nutzen, h盲ngt von einer deutlichen Verbesserung der Marktkapitalisierung oder einem Uplisting ab.
Insgesamt positioniert das F-3 Ryde, um schnell zus盲tzliches Kapital zu beschaffen, die Warrant-Abdeckung fortzusetzen und Aktion盲rsliquidit盲t zu erm枚glichen, w盲hrend erhebliche wettbewerbliche, operative und regulatorische Herausforderungen hervorgehoben werden, die Investoren abw盲gen m眉ssen.
- US$100 million shelf registration provides flexible, low-cost access to capital markets for future growth.
- Combines prior F-1 warrants into the shelf, maintaining registration efficiency and avoiding duplicate fees.
- Secondary listing in Germany expands investor base and potential liquidity.
- Recent acquisitions and new subsidiaries demonstrate active expansion strategy beyond core ride-hailing.
- Micro-cap status (US$4.768 million float) severely limits near-term primary issuance to 鈮圲S$1.6 million.
- Significant potential dilution: 5.3 million warrant shares plus 8.03 million resale shares atop any new issuance.
- Competitive pressure from larger regional players (Grab, Gojek) may force continued incentive spend and delay profitability.
- Regulatory uncertainties鈥攏ew Platform Workers Act, data-privacy and LTA licensing鈥攃ould raise costs or constrain the model.
Insights
TL;DR 鈥� Shelf unlocks flexible capital but dilution risk looms for tiny float.
The F-3 transforms Ryde鈥檚 capital stack by rolling warrants and a US$100 million shelf into one vehicle. Near-term primary issuance, however, is effectively capped at ~US$1.6 million under I.B.5 because the public float is just US$4.8 million. That means the filing is more about readiness than immediate cash. For a micro-cap in a cash-intensive ride-hailing model, the extra financing option is positive, but investors should expect incremental raises and dilution rather than a single large deal. Secondary resale of 8 million shares (鈮�37 % of current Class A count) could add to selling pressure. Credit metrics are not disclosed here; absent earnings visibility, Ryde may rely on equity. Net impact: strategically useful, financially neutral until the market cap grows.
TL;DR 鈥� Extensive risk factors underscore execution, regulatory and listing vulnerabilities.
Ryde鈥檚 prospectus lists over 40 specific risks, many structural: regulatory flux (Platform Workers Act, gig-economy rules), possible driver re-classification, cyber breaches, and a sub-US$1 share price bordering on NYSE American deficiency. The company鈥檚 reliance on incentives to stimulate usage collides with its need to conserve cash. A US$100 million shelf signals ambition but could overwhelm the float, especially with 5.3 million warrant shares and 8.03 million resale shares pending. For a business operating in one city, concentration risk is high. Until Ryde demonstrates sustained revenue growth and lower cash burn, the filing is more defensive than catalytic.
Ryde Group Ltd (NYSE American: RYDE) ha depositato una registrazione shelf di tipo Form F-3 per garantirsi la massima flessibilit脿 nel raccogliere capitale nei prossimi tre anni.
- Shelf principale: fino a 100 milioni di dollari USA in azioni ordinarie di Classe A, titoli di debito, warrant, diritti o unit脿 che possono essere venduti direttamente o tramite sottoscrittori, dealer o agenti.
- Idoneit脿 alla Regola 415: il flottante pubblico della societ脿 猫 solo di 4,768 milioni di dollari USA (14,9 milioni di azioni non affiliate a 0,32 USD al 7 luglio 2025). Secondo l'Istruzione I.B.5, Ryde non pu貌 vendere pi霉 di un terzo di questo flottante (circa 1,6 milioni di dollari) in un periodo di 12 mesi finch茅 il valore di mercato non supera i 75 milioni di dollari.
- Titoli da riportare: (i) 5,3 milioni di azioni di Classe A emettibili tramite esercizio di warrant venduti nell鈥檕fferta di follow-on di settembre 2024; (ii) conversione della precedente registrazione Form F-1 (File No. 333-282076) nel nuovo shelf.
- Componente di rivendita: 8,03 milioni di azioni di Classe A detenute da Octava Fund Ltd possono essere offerte per vendita secondaria. Ryde non ricever脿 proventi da questa operazione.
La registrazione aggiorna la capacit脿 di raccolta dopo una serie di azioni societarie:
- IPO da 12 milioni di dollari (marzo 2024) e follow-on da 4,5 milioni di dollari (settembre 2024).
- Quotazioni secondarie a Francoforte e Stoccarda (giugno 2024) e diverse nuove controllate (BVI e Singapore) per supportare l鈥檈spansione.
- Partecipazione del 40% in Atoll Discovery (giugno 2025) pagata con 4,85 milioni di azioni Ryde.
Profilo aziendale. Ryde 猫 una holding con sede nelle Isole Cayman le cui controllate operative a Singapore gestiscono un 鈥渟uper app di mobilit脿鈥� che offre car-pooling, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) e consegne rapide di pacchi (RydeSEND). I punti di forza citati includono una piattaforma a doppio segmento, tecnologia scalabile e management esperto.
Principali rischi evidenziati nel prospetto:
- Crescita in fase iniziale e perdite continue; la redditivit脿 dipende dalla riduzione degli incentivi per autisti e consumatori.
- Concorrenza intensa da parte di Grab, Gojek, ComfortDelGro, Lalamove e altri.
- Incertezze normative (Platform Workers Act 2024, classificazione degli autisti, privacy dei dati, AML, licenze LTA).
- Status micro-cap (0,32 USD per azione), potenziali sfide di conformit脿 alla quotazione NYSE American e diluizione da warrant, azioni di rivendita e future offerte.
- Rischi tecnologici, di cybersecurity e reputazionali inerenti ai modelli di ride-hailing e consegna.
Utilizzo dei proventi sar脿 dettagliato in supplementi prospettici futuri, ma gli scopi tipici includono capitale circolante, investimenti tecnologici e potenziali acquisizioni. La capacit脿 di raccogliere l鈥檌ntero importo di 100 milioni di dollari dipende da un significativo miglioramento della capitalizzazione di mercato o da un uplisting.
In sintesi, il Form F-3 consente a Ryde di raccogliere capitale aggiuntivo rapidamente, mantenere la copertura dei warrant e permettere liquidit脿 agli azionisti, evidenziando al contempo importanti sfide competitive, operative e regolamentari che gli investitori devono considerare.
Ryde Group Ltd (NYSE American: RYDE) ha presentado una registraci贸n shelf Form F-3 para otorgarse m谩xima flexibilidad para recaudar capital durante los pr贸ximos tres a帽os.
- Shelf primario: hasta 100 millones de d贸lares estadounidenses en acciones ordinarias Clase A, valores de deuda, warrants, derechos o unidades que pueden venderse directamente o a trav茅s de suscriptores, distribuidores o agentes.
- Elegibilidad bajo la Regla 415: el flotante p煤blico de la empresa es solo de 4.768 millones de d贸lares (14.9 millones de acciones no afiliadas a 0.32 USD al 7 de julio de 2025). Seg煤n la Instrucci贸n I.B.5, Ryde no puede vender m谩s de un tercio de ese flotante (鈮�1.6 millones de d贸lares) en cualquier per铆odo de 12 meses hasta que su valor de mercado supere los 75 millones de d贸lares.
- Valores trasladados: (i) 5.3 millones de acciones Clase A emitibles mediante el ejercicio de warrants vendidos en la oferta follow-on de septiembre 2024; (ii) conversi贸n del registro previo Form F-1 (Archivo No. 333-282076) al nuevo shelf.
- Componente de reventa: 8.03 millones de acciones Clase A en posesi贸n de Octava Fund Ltd pueden ofrecerse para venta secundaria. Ryde no recibir谩 ingresos por esta operaci贸n.
La presentaci贸n actualiza la capacidad de recaudaci贸n tras una serie de acciones corporativas:
- IPO de 12 millones de d贸lares (marzo 2024) y follow-on de 4.5 millones de d贸lares (septiembre 2024).
- Listados secundarios en Frankfurt y Stuttgart (junio 2024) y varias nuevas subsidiarias (BVI y Singapur) para apoyar la expansi贸n.
- Participaci贸n del 40% en Atoll Discovery (junio 2025) pagada con 4.85 millones de acciones Ryde.
Resumen del negocio. Ryde es una compa帽铆a holding de las Islas Caim谩n cuyas subsidiarias operativas en Singapur gestionan una 鈥渟uper app de movilidad鈥� que ofrece carpooling, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) y entrega r谩pida de paquetes (RydeSEND). Las fortalezas clave incluyen plataforma de doble segmento, tecnolog铆a escalable y gesti贸n experimentada.
Riesgos clave destacados en el prospecto:
- Crecimiento en etapa temprana y p茅rdidas continuas; la rentabilidad depende de reducir incentivos para conductores y consumidores.
- Competencia intensa de Grab, Gojek, ComfortDelGro, Lalamove y otros.
- Inc贸gnitas regulatorias (Ley de Trabajadores de Plataforma 2024, clasificaci贸n de conductores, privacidad de datos, AML, licencias LTA).
- Estado micro-cap (0.32 USD por acci贸n), posibles desaf铆os de cumplimiento en NYSE American y diluci贸n por warrants, acciones en reventa y futuras ofertas.
- Riesgos tecnol贸gicos, de ciberseguridad y reputaci贸n inherentes a los modelos de ride-hailing y entrega.
Uso de los fondos se detallar谩 en suplementos futuros del prospecto, pero los prop贸sitos t铆picos incluyen capital de trabajo, inversiones tecnol贸gicas y adquisiciones potenciales. La capacidad de utilizar la totalidad de los 100 millones de d贸lares depende de una mejora significativa en la capitalizaci贸n de mercado o un uplisting.
En conjunto, el Form F-3 posiciona a Ryde para recaudar capital incremental r谩pidamente, mantener la cobertura de warrants y permitir liquidez a los accionistas, mientras resalta importantes desaf铆os competitivos, operativos y regulatorios que los inversores deben considerar.
Ryde Group Ltd (NYSE American: RYDE)電� 頄ロ泟 3雲勱皠 鞛愲掣 臁半嫭鞚� 斓滊寑 鞙犾棸靹膘潉 頇曤炒頃橁赴 鞙勴暣 Form F-3 靹犽皹 霌彪鞚� 鞝滌稖頄堨姷雼堧嫟.
- 欤检殧 靹犽皹: 韥措灅鞀� A 氤错喌欤�, 毂勲 歃濌秾, 鞗岆煱韸�, 甓岆Μ 霕愲姅 雼渼搿� 斓滊寑 1鞏� 雼煬旯岇 歆侅爲 韺愲Г頃橁卑雮� 鞚胳垬鞚�, 霐滊煬 霕愲姅 雽�毽澑鞚� 韱淀暣 韺愲Г頃� 靾� 鞛堨姷雼堧嫟.
- 攴滌箼 415 鞝侁博靹�: 須岇偓鞚� 瓿店皽 鞙犿喌 欤检嫕 臧�旃橂姅 雼 476.8毵� 雼煬(2025雲� 7鞗� 7鞚� 旮办 牍勱硠鞐� 欤检嫕 1,490毵� 欤�, 欤茧嫻 0.32雼煬)鞛呺媹雼�. 歆�旃� I.B.5鞐� 霐半澕 Ryde電� 鞁滌灔 臧�旃橁皜 7,500毵� 雼煬毳� 齑堦臣頃� 霑岅箤歆� 12臧滌洈 霃欖晥 鞚� 鞙犿喌 欤检嫕鞚� 3攵勳潣 1(鞎� 160毵� 雼煬) 鞚挫儊鞚� 韺愲Г頃� 靾� 鞐嗢姷雼堧嫟.
- 鞚挫洈 歃濌秾: (i) 2024雲� 9鞗� 頉勳啀 瓿惦鞐愳劀 韺愲Г霅� 鞗岆煱韸� 頄夓偓搿� 氚滍枆 臧�電ロ暅 530毵� 韥措灅鞀� A 欤检嫕; (ii) 鞚挫爠 Form F-1 霌彪(File No. 333-282076)鞚� 靸堧鞖� 靹犽皹鞙茧鞚� 鞝勴櫂.
- 鞛寪毵� 甑劚 鞖旍唽: Octava Fund Ltd臧� 氤挫湢頃� 803毵� 韥措灅鞀� A 欤检嫕鞚� 2彀� 韺愲Г鞖╈溂搿� 鞝滉车霅� 靾� 鞛堨溂氅�, Ryde電� 靾橃澋鞚� 氚涭 鞎婌姷雼堧嫟.
鞚措矆 鞝滌稖鞚� 鞚茧牗鞚� 旮办梾 頇滊彊 鞚错泟 鞛愲掣 臁半嫭 電ル牓鞚� 臧膘嫚頃╇媹雼�:
- 1,200毵� 雼煬 IPO(2024雲� 3鞗�) 氚� 450毵� 雼煬 頉勳啀 瓿惦(2024雲� 9鞗�).
- 頂勲瀾韥懜毳错姼 氚� 鞀堩埇韸戈皜毳错姼鞐愳劀鞚� 2彀� 靸侅灔(2024雲� 6鞗�) 氚� 頇曥灔鞚� 歆�鞗愴晿旮� 鞙勴暅 鞐煬 鞁犼窚 鞛愴殞靷�(BVI 氚� 鞁标皜韽ゴ).
- Atoll Discovery 歆�攵� 40%(2025雲� 6鞗�), 485毵� Ryde 欤检嫕鞙茧 歆�旮�.
靷梾 臧滌殧. Ryde電� 旒�鞚措Ж 鞝滊弰鞐� 氤胳偓毳� 霊� 歆�欤柬殞靷 鞁标皜韽ゴ鞐� 鞛堧姅 鞖挫榿 鞛愴殞靷皜 旃错拃, 霛检澊霌滍棨鞚茧(RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) 氚� 牍犽ジ 氚办啞(RydeSEND)鞚� 鞝滉车頃橂姅 鈥滌妶韻� 氇箤毽嫲 鞎扁�濎潉 鞖挫榿頃╇媹雼�. 欤检殧 臧曥爯鞙茧電� 鞚挫 靹戈犯毹柬姼 頂岆灚韽�, 頇曥灔 臧�電ロ暅 旮办垹 氚� 瓴巾棙 毵庫潃 瓴届榿歆勳澊 鞏戈笁霅橃棃鞀惦媹雼�.
韴瀽靹る獏靹滌棎 氇呾嫓霅� 欤检殧 鞙勴棙:
- 齑堦赴 靹膘灔 雼硠 氚� 歆�靻嶌爜鞚� 靻愳嫟; 靾橃澋靹膘潃 鞖挫爠鞛� 氚� 靻岆箘鞛� 鞚胳劶韹半笇 於曥唽鞐� 雼牑 鞛堨潓.
- Grab, Gojek, ComfortDelGro, Lalamove 霌标臣鞚� 旃橃棿頃� 瓴届焷.
- 攴滌牅 攵堩檿鞁れ劚(2024雲� 頂岆灚韽� 攴茧鞛愲矔, 鞖挫爠鞛� 攵勲, 雿办澊韯� 頂勲澕鞚措矂鞁�, 鞛愱笀靹疙儊氚╈, LTA 霛检澊靹犾姢).
- 毵堨澊韥旌� 靸來儨(欤茧嫻 0.32雼煬), NYSE American 靸侅灔 攴滌爼 欷�靾� 氍胳牅 臧�電レ劚 氚� 鞗岆煱韸�, 鞛寪毵� 欤检嫕, 氙鸽灅 瓿惦鞐� 霐半ジ 頋劃 鞙勴棙.
- 霛检澊霌滍棨鞚茧 氚� 氚办啞 氇嵏鞐� 雮挫灛霅� 旮办垹, 靷澊氩� 氤挫晥 氚� 敫岆灉霌� 韽夗寪 鞙勴棙.
鞛愱笀 靷毄鞚� 頄ロ泟 歃濍炒霅� 靹る獏靹滌棎靹� 鞛愳劯頌� 雼る（瓴犾毵�, 鞚茧皹鞝侅溂搿� 鞖挫爠鞛愲掣, 旮办垹 韴瀽 氚� 鞛犾灛鞝� 鞚胳垬鞐� 靷毄霅� 鞓堨爼鞛呺媹雼�. 1鞏� 雼煬 鞝勳暋 臁半嫭鞚� 鞁滉皜齑濎暋鞚� 靸侂嫻頃� 臧滌劆 霕愲姅 靸侅渼鞁滌灔 鞚挫爠鞐� 雼牑 鞛堨姷雼堧嫟.
鞝勲皹鞝侅溂搿� Form F-3電� Ryde臧� 於旉皜 鞛愲掣鞚� 鞁犾啀頌� 臁半嫭頃橁碃 鞗岆煱韸� 旎る矂毽毳� 鞙犾頃橂┌ 欤检＜ 鞙犽彊靹膘潉 項堨毄頃橂姅 霃欖嫓鞐� 韴瀽鞛愱皜 鞁犾頌� 瓿犽牑頃挫暭 頃� 靸侂嫻頃� 瓴届焷, 鞖挫榿 氚� 攴滌牅 鞙勴棙鞚� 攵�臧來暕雼堧嫟.
Ryde Group Ltd (NYSE American : RYDE) a d茅pos茅 un enregistrement shelf Form F-3 afin de se donner une flexibilit茅 maximale pour lever des capitaux au cours des trois prochaines ann茅es.
- Shelf principal : 箩耻蝉辩耻'脿 100 millions de dollars US en actions ordinaires de classe A, titres de dette, bons de souscription, droits ou unit茅s pouvant 锚tre vendus directement ou par l'interm茅diaire de souscripteurs, courtiers ou agents.
- 脡ligibilit茅 脿 la r猫gle 415 : le flottant public de la soci茅t茅 est seulement de 4,768 millions de dollars US (14,9 millions d鈥檃ctions non affili茅es 脿 0,32 USD au 7 juillet 2025). Selon l鈥橧nstruction I.B.5, Ryde ne peut pas vendre plus d鈥檜n tiers de ce flottant (鈮�1,6 million de dollars) sur une p茅riode de 12 mois tant que sa capitalisation boursi猫re ne d茅passe pas 75 millions de dollars.
- Titres report茅s : (i) 5,3 millions d鈥檃ctions de classe A pouvant 锚tre 茅mises 脿 l鈥檈xercice de bons de souscription vendus lors de l鈥檕ffre de suivi de septembre 2024 ; (ii) conversion de l鈥檈nregistrement Form F-1 ant茅rieur (dossier n掳 333-282076) dans le nouveau shelf.
- Composante de revente : 8,03 millions d鈥檃ctions de classe A d茅tenues par Octava Fund Ltd peuvent 锚tre propos茅es 脿 la vente secondaire. Ryde ne recevra aucun produit de cette op茅ration.
Le d茅p么t actualise la capacit茅 de lev茅e de fonds apr猫s une s茅rie d鈥檃ctions corporatives :
- IPO de 12 millions de dollars US (mars 2024) et offre de suivi de 4,5 millions de dollars US (septembre 2024).
- Cotations secondaires 脿 Francfort et Stuttgart (juin 2024) et plusieurs nouvelles filiales (BVI et Singapour) pour soutenir l鈥檈xpansion.
- Participation de 40 % dans Atoll Discovery (juin 2025) pay茅e avec 4,85 millions d鈥檃ctions Ryde.
Pr茅sentation de l鈥檈ntreprise. Ryde est une soci茅t茅 holding des 卯les Ca茂mans dont les filiales op茅rationnelles 脿 Singapour g猫rent une 芦 super application de mobilit茅 禄 offrant covoiturage, ride-hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) et livraison rapide de colis (RydeSEND). Les points forts cit茅s incluent une plateforme 脿 double segment, une technologie 茅volutive et une direction exp茅riment茅e.
Principaux risques mentionn茅s dans le prospectus :
- Croissance en phase initiale et pertes continues ; la rentabilit茅 d茅pend de la r茅duction des incitations aux conducteurs et aux consommateurs.
- Concurrence intense de la part de Grab, Gojek, ComfortDelGro, Lalamove et autres.
- Incertitudes r茅glementaires (Platform Workers Act 2024, classification des conducteurs, confidentialit茅 des donn茅es, AML, licences LTA).
- Statut micro-cap (0,32 USD par action), d茅fis potentiels de conformit茅 脿 la cotation NYSE American et dilution due aux bons de souscription, actions revendues et futures 茅missions.
- Risques technologiques, cybers茅curit茅 et r茅putation de marque inh茅rents aux mod猫les de ride-hailing et de livraison.
Utilisation des fonds sera d茅taill茅e dans de futurs suppl茅ments au prospectus, mais les usages typiques incluent le fonds de roulement, les investissements technologiques et les acquisitions potentielles. La capacit茅 de lever l鈥檌nt茅gralit茅 des 100 millions de dollars d茅pend d鈥檜ne am茅lioration significative de la capitalisation boursi猫re ou d鈥檜n passage 脿 un march茅 sup茅rieur.
Dans l鈥檈nsemble, le Form F-3 positionne Ryde pour lever rapidement des capitaux suppl茅mentaires, maintenir la couverture des bons de souscription et permettre la liquidit茅 des actionnaires, tout en soulignant des vents contraires importants sur le plan concurrentiel, op茅rationnel et r茅glementaire que les investisseurs doivent prendre en compte.
Ryde Group Ltd (NYSE American: RYDE) hat eine Form F-3 Shelf-Registrierung eingereicht, um sich maximale Flexibilit盲t f眉r die Kapitalaufnahme in den n盲chsten drei Jahren zu sichern.
- Prim盲rer Shelf: Bis zu 100 Millionen US-Dollar in Stammaktien der Klasse A, Schuldverschreibungen, Warrants, Bezugsrechten oder Einheiten, die direkt oder 眉ber Underwriter, H盲ndler oder Agenten verkauft werden k枚nnen.
- Regel 415-Eignung: Der 枚ffentliche Streubesitz des Unternehmens betr盲gt nur 4,768 Millionen US-Dollar (14,9 Millionen nicht verbundene Aktien zu 0,32 USD am 7. Juli 2025). Nach Instruktion I.B.5 darf Ryde nicht mehr als ein Drittel dieses Streubesitzes (鈮�1,6 Millionen USD) innerhalb von 12 Monaten verkaufen, bis der Marktwert 75 Millionen USD 眉bersteigt.
- 脺bertragene Wertpapiere: (i) 5,3 Millionen Klasse-A-Aktien, die durch Aus眉bung von Warrants aus dem Folgeangebot im September 2024 ausgegeben werden k枚nnen; (ii) Umwandlung der vorherigen Form F-1-Registrierung (Datei Nr. 333-282076) in den neuen Shelf.
- Wiederverkaufskomponente: 8,03 Millionen Klasse-A-Aktien, die von Octava Fund Ltd gehalten werden, k枚nnen zum Sekund盲rverkauf angeboten werden. Ryde erh盲lt keine Erl枚se daraus.
Die Einreichung erneuert die Kapitalaufnahmef盲higkeit nach einer Reihe von Unternehmensma脽nahmen:
- 12 Millionen USD IPO (M盲rz 2024) und 4,5 Millionen USD Folgeangebot (September 2024).
- Sekund盲rnotierungen in Frankfurt und Stuttgart (Juni 2024) sowie mehrere neue Tochtergesellschaften (BVI und Singapur) zur Unterst眉tzung der Expansion.
- 40 % Beteiligung an Atoll Discovery (Juni 2025), bezahlt mit 4,85 Millionen Ryde-Aktien.
骋别蝉肠丑盲蹿迟蝉眉产别谤蝉颈肠丑迟. Ryde ist eine Holdinggesellschaft auf den Cayman Islands, deren operative Tochtergesellschaften in Singapur eine 鈥濻uper-Mobilit盲ts-App鈥� betreiben, die Carpooling, Ride-Hailing (RydeX, RydeXL, RydeLUXE, RydePET, RydeTAXI) und schnelle Paketzustellung (RydeSEND) anbietet. Zu den wichtigsten St盲rken z盲hlen eine Dual-Segment-Plattform, skalierbare Technologie und erfahrenes Management.
Wesentliche Risiken im Prospekt:
- Fr眉he Wachstumsphase und anhaltende Verluste; Profitabilit盲t h盲ngt von der Reduzierung von Anreizen f眉r Fahrer und Verbraucher ab.
- Intensiver Wettbewerb durch Grab, Gojek, ComfortDelGro, Lalamove und andere.
- Regulatorische Unsicherheiten (Platform Workers Act 2024, Fahrerklassifizierung, Datenschutz, AML, LTA-Lizenzen).
- Micro-Cap-Status (0,32 USD Aktienkurs), potenzielle NYSE American-Listing-Compliance-Herausforderungen und Verw盲sserung durch Warrants, Wiederverkaufsaktien und zuk眉nftige Angebote.
- Technologie-, Cybersecurity- und Markenreputationsrisiken, die in Ride-Hailing- und Zustellmodellen inh盲rent sind.
Verwendung der Erl枚se wird in zuk眉nftigen Prospekterg盲nzungen detailliert, typische Zwecke sind jedoch Betriebskapital, Technologieinvestitionen und potenzielle Akquisitionen. Die F盲higkeit des Unternehmens, die vollen 100 Millionen USD zu nutzen, h盲ngt von einer deutlichen Verbesserung der Marktkapitalisierung oder einem Uplisting ab.
Insgesamt positioniert das F-3 Ryde, um schnell zus盲tzliches Kapital zu beschaffen, die Warrant-Abdeckung fortzusetzen und Aktion盲rsliquidit盲t zu erm枚glichen, w盲hrend erhebliche wettbewerbliche, operative und regulatorische Herausforderungen hervorgehoben werden, die Investoren abw盲gen m眉ssen.
Filed Pursuant to Rule 424(b)(3)
Registration No. 333-284606
PROSPECTUS SUPPLEMENT
(to Prospectus dated February 5, 2025)
274,666 American Depositary Shares representing
137,333,300
Ordinary Shares
Kazia Therapeutics Limited
This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated February 5, 2025 (the “Prospectus”), which forms a part of our Registration Statement on Form F-1 (Registration No. 333-284606), with the information contained in our current report on Form 6-K, furnished to the Securities and Exchange Commission on July 9, 2025 (the “July 9, 2025 Form 6-K”). Accordingly, we have attached the July 9, 2025 Form 6-K to this prospectus supplement.
This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.
The ADSs are listed on The Nasdaq Capital Market (“Nasdaq”) under the symbol “KZIA.” On July 8, 2025, the last reported sale price of the ADSs on Nasdaq was $6.825 per ADS.
Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 9 of the Prospectus and the “Risk Factors” in “Item 3. Key Information—D. Risk Factors” of our most recent Annual Report on Form 20-F, which is incorporated by reference in the Prospectus, as well as in any other recently filed reports and, if any, in any applicable prospectus supplement.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of the Prospectus or this prospectus supplement. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is July 9, 2025
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2025
Commission File Number 000-29962
Kazia Therapeutics Limited
(Translation of registrant’s name into English)
Three International Towers Level 24 300 Barangaroo Avenue Sydney NSW 2000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On July 9, 2025, Kazia Therapeutics Limited (the “Company”) issued a press release titled “Kazia Therapeutics Reports Early Efficacy Data from First Triple-Negative Breast Cancer Patient Receiving Paxalisib Combination Regimen achieving >50% Reduction in Circulating Tumor Cells in Phase 1b Trial”. A copy of this release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The Company hereby incorporates by reference the information contained herein, including Exhibit 99.1, except for the quote of Dr. John Friend, Chief Executive Officer of the Company, contained in Exhibit 99.1, into the Company’s registration statements on Form F-3 (File No. 333-276091 and 333-281937).
EXHIBIT LIST
| Exhibit | | Description |
| 99.1 | | Press Release of Kazia Therapeutics Limited dated July 9, 2025 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Kazia Therapeutics Limited (Registrant) |
| /s/ John Friend |
| John Friend |
| Chief Executive Officer |
| Date: 9 July 2025 |
Exhibit 99.1
Kazia Therapeutics Reports Early Efficacy Data from First Triple-Negative Breast Cancer Patient Receiving Paxalisib Combination Regimen achieving >50% Reduction in Circulating Tumor Cells in Phase 1b Trial
Kazia Therapeutics (NASDAQ: KZIA) is pleased to announce preliminary results from the first patient in its Phase 1b trial evaluating a combination regimen of Paxalisib, pembrolizumab (Keytruda®), and standard chemotherapy after completing Cycle 1 (21 days) of dosing. The patient, a 61-year-old woman with metastatic triple-negative breast cancer localized to the left upper lobe of the lung, has shown highly encouraging preliminary results at 21 days, with a >50% reduction in circulating tumor cells (CTCs) and a notable decrease in CTC clusters.
The early data in this first patient closely mirror the mechanistic preclinical findings published in Molecular Cancer Therapeutics (https://aacrjournals.org/mct/article/doi/10.1158/1535-7163.MCT-24-0693/762979/Depleting-the-Action-of-EZH2-through-PI3K-mTOR), which highlight that Paxalisib, when combined with immunotherapy, significantly disrupted both single CTCs and multicellular clusters in preclinical models.
Key Highlights
- Patient Profile: 61-year-old female, metastatic triple-negative breast cancer (lung metastasis).
- Investigational Regimen: Paxalisib, pembrolizumab, and chemotherapy.
- Results at Day 21 (End-of-Cycle 1):
| | • | | >50% reduction in total CTC count. |
| | • | | Comparable reduction in CTC clusters—these aggregates are associated with heightened metastatic potential. |
| | • | | Reduction in the mesenchymal phenotype of the remaining CTCs; this phenotype is one of the hallmarks of aggressive metastatic seeding cancer cells. |
| | • | | First-in-human data support potential for potent CTC mobilization suppression by this combination. |
Clinical Significance of Patient Data
CTC clusters have long been recognized as critical mediators of metastasis and markers of poor prognosis. They are known to resist apoptosis, evade immune detection, and seed new tumor sites with exceptional efficiency. Notably, standard chemotherapy has been shown in some studies to transiently increase CTC and cluster counts within the first cycle, with levels sometimes doubling before normalizing after cycle two. In contrast, immunotherapy alone has demonstrated variable impact, often showing delayed or modest effects on CTCs, likely due to immune-mediated mechanisms over weeks to months.
In this case, the combination regimen of Paxalisib and immunotherapy achieved a rapid reduction in both CTC numbers and clusters as well as a reduction in the mesenchymal phenotype—an outcome not typically seen with chemotherapy or immunotherapy alone after only 21 days of treatment. This early clinical data reflects mechanistic synergy consistent with the preclinical data described in the MCT manuscript.
Dr. John Friend, MD, Chief Executive Officer of Kazia Therapeutics, said “It is very exciting to see our extensive preclinical research translate into such positive early data in this first patient receiving a combination of Paxalisib and immunotherapy. The degree of reduction in tumor cell dissemination markers in just 21 days gives us strong reason for optimism as we continue this clinical trial.”
Dr. Friend continued “CTC clusters are emerging as key drivers of metastatic spread—they’re 20–100X more efficient at seeding than single CTCs—and the sharp decline we’re seeing is truly encouraging. We believe this combination may offer a meaningful early intervention against systemic disease progression.”
Next Steps
- Explore potential relationship between CTC kinetics and radiographic responses
- Enrollment continues in the Phase Ib study, expanding cohort size to assess safety, tolerability, and pharmacodynamics
- Planned comprehensive analysis of immune microenvironment and CTC kinetics across all patients through serial monitoring
- Longer-term follow-up will include imaging, progression-free survival, and assessment of correlation with molecular biomarkers
For investor and media, please contact Alex Star, Managing Director LifeSci Advisors LLC, [email protected], +1-201-786-8795.
About Kazia Therapeutics Limited
Kazia Therapeutics Limited (NASDAQ: KZIA) is an oncology-focused drug development company, based in Sydney, Australia. Our lead program is paxalisib, an investigational
brain penetrant inhibitor of the PI3K / Akt / mTOR pathway, which is being developed to treat multiple forms of cancer. Licensed from Genentech in late 2016, paxalisib is or has been the subject of ten clinical trials in this disease. A completed Phase 2/3 study in glioblastoma (GBM-Agile) was reported in 2024 and discussions are ongoing for designing and executing a pivotal registrational study in pursuit of a standard approval. Other clinical trials involving paxalisib are ongoing in advanced breast cancer, brain metastases, diffuse midline gliomas, and primary CNS lymphoma, with several of these trials having reported encouraging interim data. Paxalisib was granted Orphan Drug Designation for glioblastoma by the FDA in February 2018, and Fast Track Designation (FTD) for glioblastoma by the FDA in August 2020. Paxalisib was also granted FTD in July 2023 for the treatment of solid tumour brain metastases harboring PI3K pathway mutations in combination with radiation therapy. In addition, paxalisib was granted Rare Pediatric Disease Designation and Orphan Drug Designation by the FDA for diffuse intrinsic pontine glioma in August 2020, and for atypical teratoid / rhabdoid tumours in June 2022 and July 2022, respectively. Kazia is also developing EVT801, a small molecule inhibitor of VEGFR3, which was licensed from Evotec SE in April 2021. Preclinical data has shown EVT801 to be active against a broad range of tumour types and has provided evidence of synergy with immuno-oncology agents. A Phase I study has been completed and preliminary data was presented at 15th Biennial Ovarian Cancer Research Symposium in September 2024. For more information, please visit www.kaziatherapeutics.com or follow us on X @KaziaTx.
Forward-Looking Statements
This announcement may contain forward-looking statements, which can generally be identified as such by the use of words such as “may,” “will,” “estimate,” “future,” “forward,” “anticipate,” or other similar words. Any statement describing Kazia’s future plans, strategies, intentions, expectations, objectives, goals or prospects, and other statements that are not historical facts, are also forward looking statements, including, but not limited to, statements regarding: the timing for results and data related to Kazia’s clinical and preclinical trials, Kazia’s strategy and plans with respect to its paxalisib program, the potential results of its Phase 1b clinical trial evaluating paxalisib in combination with olaparib or pembrolizumab for patients with advanced breast cancer, the potential benefits of paxalisib as an investigational PI3K/mTOR inhibitor, timing for any regulatory submissions or discussions with regulatory agencies, the potential market opportunity for paxalisib and Kazia’s intent and efforts to regain and/or maintain compliance with the applicable Nasdaq continued listing requirements and standards. Such statements are based on Kazia’s current expectations and projections about future events and future trends affecting its business and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including risks and uncertainties associated with clinical and preclinical trials and product development, including the risk that interim or early data may not be consistent with final data, risks related to regulatory approvals, risks related to the impact
of global economic conditions, and risks related to Kazia’s ability to regain and/or maintain compliance with the applicable Nasdaq continued listing requirements and standards. These and other risks and uncertainties are described more fully in Kazia’s Annual Report, filed on form 20-F with the SEC, and in subsequent filings with the United States Securities and Exchange Commission. Kazia undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required under applicable law. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this announcement.
This announcement was authorized for release by Dr John Friend, CEO
Source:
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