Roadzen exchanges $3.5M short-term debt for equity with CEO and Chairman

Roadzen Inc.

Related parties (CEO Rohan Malhotra's firm Avacara, Chairman's firms Marco Polo and Pi Capital) cancel $3.5M debt.
Conversion price: greater of $2.80 or 30-trading-day VWAP after Form 10-Q filing; expected Issuance Date ~Sept 16, 2024.
Exchange Shares subject to lockup: 30% salable after 91 days, 30% after 181 days, remainder after 9 months.
Special Committee of Independent Directors unanimously approved the debt-for-equity exchange.
CEO and Chairman cite balance sheet simplification and confidence in Roadzen's AI platform.

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