Roadzen Inc (RDZN) has released an update to notify the public and investors about an entry into a material definitive agreement.
Roadzen Inc. has modified its Forward Purchase Agreement with Meteora Capital Partners and associated entities, allowing the company to request additional funding up to $5 million in specific increments under certain conditions. The amendment also changes the terms related to the Prepayment Shortfall, permitting faster resale of shares without incurring an Early Termination Obligation and increasing the required proceeds from sales before obligations are met. These adjustments offer Roadzen Inc. more financial flexibility and quicker access to capital.
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For a comprehensive understanding of the announcement, you can read the full document here.
