Roze AI, a South Korean provider of AI-powered fire detection and disaster prevention products, registered 18.1 million shares via a final prospectus filed with the SEC in connection with its Nasdaq direct listing.
The company also announced in a press release that it expected shares to begin trading on the Nasdaq under the symbol RZAI on September 29, 2026; however, the stock does not appear to have traded during the day. It is still expected to trade this week.
The shares of common stock listed will be sold by existing shareholders; Roze AI will not raise new capital in its listing.
In a private placement, Roze AI agreed to sell $10 million worth of Class C Preferred Shares to accredited investors at $8.00 per share, with a potentially lower conversion price. At the $8 assumed price, the company would be valued at $933 million.
Roze AI states that it develops AI-based fire-safety technologies that combine IoT technology, wireless sensors, data analytics, and digital twin technology to support risk assessment, monitoring, and response. Roze AI believes its fire-forecasting system (Fire 4Cast) provides fire-risk information, including a Fire Risk Index, to support preventive responses.
Roze AI has no connection to SoftBank backed AI company Roze, which is reportedly exploring an IPO.
As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, RBW Capital Partners served as financial advisor, with securities and brokerage services offered through Dawson James Securities.
