Roadzen Inc. (RDZN): debt financing — Roadzen issues $500K convertible debenture to director; part of $50M private placement

Roadzen Inc.

Issued $500,000 convertible debenture to director Supurna VedBrat on January 19, 2024.
Debenture carries 13% annual interest, payable in kind or cash, maturing December 15, 2025.
Conversion price initially $10.00 per share, adjustable based on 30-day VWAP with 85% floor.
Company may force conversion if stock closes above 130% of conversion price for 20 of 30 trading days.
Issued under Securities Purchase Agreement for up to $50M; warrants for 10% of principal at $8.50 per share.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Roadzen Inc. incurred convertible notes of $500,000 with Supurna VedBrat at 13% per annum maturing December 15, 2025.

Instrument: convertible notes
Principal: $500,000
Counterparty: Supurna VedBrat
Rate: 13% per annum
Maturity: December 15, 2025
Event: incurrence

Exact text from the filing

On January 19, 2024, Roadzen Inc. (the “Company”) issued a convertible debenture in the principal amount of $500,000 to Supurna VedBrat (the “VedBrat Debenture”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Roadzen Inc. incurred convertible notes of $50 million with the Investors at 13% per annum maturing December 15, 2025.

Instrument: convertible notes
Principal: $50 million
Counterparty: the Investors
Rate: 13% per annum
Maturity: December 15, 2025
Event: incurrence

Exact text from the filing

the Company may issue and sell an aggregate of up to $50 million in principal amount of convertible debentures (collectively, including the VedBrat Debenture, the “Debentures”)

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283 debt financings filed in the last 30 days. Browse all debt financings →

Roadzen Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-006964

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