An announcement from Roadzen Inc (RDZN) is now available.
On July 26, 2024, Roadzen, Inc. amended its Senior Secured Note Purchase Agreement, allowing for an additional $4 million in senior secured notes to be purchased, raising the total to $11.5 million, and extending the maturity date to December 31, 2024. The interest rate remains at 15% per annum, with potential increases under certain conditions. The amendment resulted in the issuance of a restated note to reflect these changes. This financial maneuver was conducted under specific exemptions from registration requirements, signaling an strategic move for the company in the securities market.
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