Loan & DebtMay 22, 2026, 05:26 PM
Roadzen Amends Convertible Note Terms, Defers Payments to July 20
AI Summary
Roadzen Inc. entered into a Third Amendment to its Securities Purchase Agreement and Junior Convertible Notes, deferring several installment payments due in April and May 2026 to July 20, 2026. The amendment also added dilutive issuance protection to the November Note, removed a holder optional redemption provision, and extended the investor's right to participate in future financings until December 20, 2027. Additionally, Roadzen is now required to seek shareholder approval for the issuance of ordinary shares upon conversion of the notes if it exceeds 20% of the total ordinary shares outstanding as of November 20, 2025.
Key Highlights
- Deferred April 21 and May 21, 2026, November Note installment amounts to July 20, 2026.
- Deferred May 20, 2026, January Note installment amount to July 20, 2026.
- Added dilutive issuance protection to the November Note, similar to the January Note.
- Removed the Holder Optional Redemption provision from the November Note.
- Removed the requirement to use up to 25% of subsequent placement proceeds for November Note redemption.
- Extended the investor's right to participate in future financings to December 20, 2027.
- Company to seek shareholder approval for issuing ordinary shares exceeding 20% of outstanding shares (as of Nov 20, 2025) upon note conversion.
- Company commits to commercially reasonable efforts for shareholder approval, holding meetings every three months if not obtained.
Price Impact
More from RDZN