Roadzen CEO and Chairman Agree to Exchange $3.5 Million of Short-Term Debt for Equity in the Company

July 18, 2024

https://www.globenewswire.com/news-release/2024/07/18/2915480/0/en/Roadzen-CEO-and-Chairman-Agree-to-Exchange-3-5-Million-of-Short-Term-Debt-for-Equity-in-the-Company.html

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq:RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced that the Company’s Special Committee of Independent Directors has unanimously approved a plan for certain related parties to release $3.5 million of short-term debt in exchange for ordinary shares of RDZN. The related parties that have executed binding term sheets and agreed to the exchange include Roadzen’s CEO, Rohan Malhotra, and Pi Capital International Inc. and its affiliate Marco Polo Securities, Inc., which is principally owned by Roadzen’s Chairman of the Board.

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