Disaster AIoT company 'RozeAI' spurs entry into the global market

Issue Date : 2024-03-31 

"The fact that small and medium-sized companies are recognized for their value of tens of billions of won and are listed on the NASDAQ global market is expected to be a role model for Korean companies, as they are recognized at the center of global capital and are on par with global companies."

"We are pushing for the listing of the NASDAQ global market in July," said Ja-myung, CEO of Blue Apple Asset Management (hereinafter referred to as Blue Apple), at the recent RozeAI NASDAQ SPAC Listing Briefing. RozeAI was established by Rozetatech, a disaster prevention solution company, to enter the global market, and Canada's Blue Apple has been preparing to list on the NASDAQ since last year.

In particular, CEO Jamyeong said, "We are doing our best to list the NASDAQ Global Market, which is the second market, not the NASDAQ Capital Market (third part), which accounts for 70% of NASDAQ listed stocks," adding, "We have just passed the ninth ridge."

Currently, RozeAI has already signed a merger and acquisition contract with NASDAQ SPAC company, and is expected to emerge the first domestic small and medium-sized IT companies to enter the NASDAQ global market, leaving only an accounting audit report in April and a securities exchange review in May.

Blue Apple stressed that RozeAI is listed on the difficult-to-verify Nasdaq global market, not the Nasdaq capital market, which has a relatively low entry threshold. This is because they are confident of RozeAI's technology and business feasibility. Nasdaq Capital is easy to enter the listing, but if its business feasibility is not recognized, it will eventually be delisted as stock prices continue to fall.

CEO Ja explained, "As a company specializing in disaster prevention solutions, we have total AI and digital twin technology from semiconductor chip design to device production and installation, and we have signed many years of experience in the firefighting industry and large customer maintenance contracts, and are recognized for our technological superiority in the North American industry."

BlueApple plans to set the initial public offering price at around 4 to 5 dollars (5,300 to 6,500 won) considering the maintenance of stock prices and distribution volume after listing on the NASDAQ SPAC. If the stock price starts too high, it is to raise the stock price steadily while being wary of selling for fund recovery at the same time as listing.

Cho Young-jin, CEO of RozeAI, said, "Based on AI technology and the Internet of Things (IoT) fire system, 'fire forecast' services like 'weather forecast' have become possible. RozeAI will pioneer the era of fire disaster forecast and become a global disaster AI company."

By Staff Reporter Sumin Ahn (smahn@etnews.com)