Roadzen issues up to $4M in senior secured notes at 17.5% to directors

Roadzen Inc.

• First closing of $1M in notes ($500K each) from director Supurna VedBrat and Krishnan-Shah Family Partners LP; each may buy another $500K.
• Notes bear 17.5% interest, rising to 19.5% after 6 months and up to 29.5% if unpaid; maturity 6 months from funding.
• Warrants issued: 1,000 ordinary shares per $10,000 principal, exercise price at 80% of the lower of VWAP benchmarks.
• Notes are senior secured with second priority behind Mizuho's existing liens; company must grant perfected security interests.
• Company may sell up to $2M additional notes to other purchasers; registration rights agreement to be entered within 30 days.