Research Reports

Key takeaways

Issued 3,500,000 Class B Ordinary Shares (10 votes per share) to Terence Zou.

Shares issued upon completing $10 million private offering on October 20, 2025.

Zou now owns 16,177,175 Class B and 618,750 Class A shares.

Post-issuance ownership: 10.27% of total share capital (163,471,076 shares).

Zou controls approximately 52.54% of aggregate voting power.

Class B shares authorized by Board on October 10, 2025; not listed on NYSE American.

Full analysis

The issuance of 3,500,000 Class B Ordinary Shares to Terence Zou significantly increases his voting control to 52.54% of the Company's aggregate voting power, despite representing only 10.27% of total issued share capital. This dual-class structure, with Class B shares carrying 10 votes per share versus one for Class A, entrenches founder control. The milestone triggering the issuance—the completion of a $10 million private offering—demonstrates alignment between executive incentives and capital-raising success. Investors should note the resulting ownership concentration may influence strategic decisions and governance dynamics.

RYDE · Ryde Group Ltd.

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Key takeaways

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