Roadzen issues warrants for 100K ordinary shares tied to $2M notes with directors

Roadzen Inc.

On April 22, 2024, Roadzen issued warrants to purchase 50,000 ordinary shares to Krishnan-Shah Family Partners, LP (director-affiliated) under the previously reported SPA for $2M senior secured notes.
Roadzen expects to issue warrants for 50,000 ordinary shares to director Supurna VedBrat in the near future, totaling 100,000 potential shares.
The warrants vest on March 28, 2025 (or earlier) and expire March 28, 2031; exercise price equals 80% of the lower of certain VWAP and offering price metrics.
Warrants were issued in a private placement exempt from registration under Section 4(a)(2) and Rule 506 of Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Roadzen Inc. entered into Securities Purchase Agreement with Supurna VedBrat and Krishnan-Shah Family Partners, LP valued at up to $2 million (effective 2024-03-28).

Action: entry
Agreement: equity purchase
Counterparty: Supurna VedBrat and Krishnan-Shah Family Partners, LP
Value: up to $2 million
Effective: 2024-03-28

Exact text from the filing

on March 28, 2024, the Company entered into a Securities Purchase Agreement (the “SPA”) with Supurna VedBrat and Krishnan-Shah Family Partners, LP (together, the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers, and the Purchasers agreed to purchase from the Company, an aggregate of up to $2 million in principal amount of senior secured notes (the “Notes”).

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Roadzen Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-049292

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