South Korean disaster prevention software Roze AI files for a direct listing on the Nasdaq
IPO Overview
Roze AI, a South Korea-based AI disaster prevention and fire safety software, filed on Monday to register its shares with the SEC and complete a direct listing on the Nasdaq. The shares of common stock listed will be sold by existing shareholders; Roze AI will not raise new capital in its listing. The company did not disclose the anticipated timing of its listing.
The Registered Stockholders plan to sell up to 19.2 million shares.
Roze AI raised $7 million in a pre-listing private placement by selling 875,000 Class C Preferred Shares at $8.00 per share. At that price, the company would imply a market cap of $933 million.
Roze AI is a South Korea-based disaster prevention technology company that develops an AI-powered fire detection and prevention platform called DAP （Disaster AI Platform）。 The platform combines wireless IoT sensing devices with AI data analysis and digital twin simulation to enable early detection, suppression, and alert transmission for fire incidents. DAP has been deployed at government facilities, military bases, and power plants in South Korea. The company is also developing a proprietary System on Chip （SoC） designed to process fire and disaster data in real time, which it intends to supply to broader disaster prevention solution markets.
The Seongnam-si, South Korea-based company was founded in 2015. It plans to list on the Nasdaq under the symbol ROZE. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, RBW Capital Partners will serve as financial advisor.
About the Company
Roze AI is a holding company incorporated under the laws of British Columbia, Canada. Our operations are conducted by our wholly owned subsidiary in South Korea, Roze AI Korea. Roze AI Korea, formerly ROZETATECH （“Roze AI Korea”）， was established in 2015 in South Korea by Young Jin Cho, an IT and AI expert and entrepreneur who has led a pioneering IT business in the US and Korea for over 30 years. Roze AI is a disaster prevention technology company specializing in the innovative AI technology platform, called DAP （Disaster AI Platform）。 Our platform utilizes wireless sensing and monitoring data collection devices which are used in combination with AI data analysis and simulation for the early detection and prevention, suppression, and alert transmission of fire incidents. Since its incorporation, Roze AI has focused on developing DAP, which is a digital twin AI wireless fire system. Digital twin technology uses real-time data, simulation, and other modeling techniques to generate a virtual representation of a real world object or system. Our platform has been installed and operated at major government facilities, military bases, government-designated production facilities, and power plants in Korea and verified through long-term testing. After long-term use, ROZEAI DAP was evaluated as an innovative new technology and certified for its stability and disaster prevention functionality.