secwatch.observer — SEC 8-K summary
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Issuer:     Roadzen Inc. (RDZN)
CIK:        0001868640
Form:       8-K
Filed at:   2024-04-04T23:59:59+00:00
Accession:  0000950170-24-041340
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1868640/000095017024041340/0000950170-24-041340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1868640/000095017024041340/rdzn-20240328.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-041340

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