8-K
filed August 22, 2023, 7:59 PM ET
ticker RDZN
CIK 0001868640
other material
confidence high
sentiment negative
materiality 0.75
Vahanna SPAC extends deadline to Sep 26; ~$87.4M redeemed by 8.1M shares, trust drops to ~$127.4M
Roadzen Inc.
- Sponsor deposits $225k for first of nine possible one-month extensions; now must close by Sep 26, 2023.
- 8,145,699 Class A shares redeemed at ~$10.73/share, removing ~$87.4M from trust; ~$127.4M remains.
- Shareholders approved charter and trust amendments allowing monthly extension payments of lesser of $0.033/share or $225k.
- Post-redemption outstanding shares: 16,866,801 (11,864,301 Class A + 5,002,500 Class B).
- Company still pursuing business combination with Roadzen Inc., an AI insurance tech firm.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Roadzen Inc.: Adopted amended and restated memorandum and articles of association to modify the monthly extension deposit amount and provide up to nine additional one-month extensions (effective 2023-08-22).
- Change
- charter amendment
- Effective
- 2023-08-22
Exact text from the filing
As approved by its shareholders at the Meeting on August 22, 2023, the Company adopted its amended and restated memorandum and articles of association on August 22, 2023
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Roadzen Inc. amended Trust Amendment with Continental Stock Transfer & Trust Company valued at Extension of Combination Period up to nine months, with monthly payments of lesser of $0.033 per sha (effective 2023-08-22).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Value
- Extension of Combination Period up to nine months, with monthly payments of lesser of $0.033 per sha
- Effective
- 2023-08-22
Exact text from the filing
on August 22, 2023, Vahanna Tech Edge Acquisition I Corp. (the “Company” or “Vahanna”) entered into an amendment (the “Trust Amendment”) to the investment management trust agreement, dated as of November 22, 2021, with Continental Stock Transfer & Trust Company (the “Trust Agreement”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Roadzen Inc. shareholders approved Amend and restate the Company’s memorandum and articles of association to modify the monthly amount that the Sponsor must deposit into the Trust Account and provide up to nine additional one-month extensions at the 2023-08-22 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-22
Exact text from the filing
The Charter Amendment Proposal was approved by special resolution of the Company’s shareholders, and received the following votes: Vahanna Ordinary Shares Votes For Vahanna Ordinary Shares Votes Against Vahanna Ordinary Shares Abstentions 20,874,572 2 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Roadzen Inc. shareholders approved Approve an amendment to the Trust Agreement to provide the Company the right to extend the Combination Period up to nine times at the 2023-08-22 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-22
Exact text from the filing
The Trust Amendment Proposal was approved by ordinary resolution of the Company’s shareholders, and received the following votes: Vahanna Ordinary Shares Votes For Vahanna Ordinary Shares Votes Against Vahanna Ordinary Shares Abstentions 20,874,571 3 0
View on SEC.gov
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