Ajay Shah - Apr 22, 2024 Form 4 Insider Report for Roadzen Inc. (RDZN)

Role
Director
Signature
/s/ Bruce Goldberg, Attorney-in-fact
Stock symbol
RDZN
Transactions as of
Apr 22, 2024
Transactions value $
$0
Form type
4
Date filed
4/24/2024, 06:30 PM
Previous filing
Dec 15, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RDZN Warrants (right to buy) Other +50K 50K Apr 22, 2024 Ordinary shares 50K The securities are held by KSFP. F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The exercise price of the warrants is equal to 80% of the lower of (i) the volume-weighted average price ("VWAP") of the ordinary shares of the Issuer over the 60 trading days subsequent to the first loan funding under the Notes (as defined below), (ii) the opening price of the Issuer's ordinary shares in any public offering of straight equity securities of the Issuer occurring within six months after the issue date of the warrants and (iii) the VWAP of the Issuer's ordinary shares over the 60 trading days immediately prior to the Vesting Date (as defined below).
F2 Krishnan-Shah Family Partners LP ("KSFP") received the warrants in connection with a loan made by KSFP to the Issuer on March 28, 2024, as evidenced by a senior secured promissory note issued by the Issuer (together with a senior secured promissory note issued by the Issuer to another person on that date, the "Notes").
F3 The warrants are exercisable in full on March 28, 2025, or earlier under certain circumstances (as applicable, the "Vesting Date").
F4 Ajay B. Shah & Lata K. Shah 1996 Trust LP is the general partner of KSFP (the "General Partner"). The reporting person and his wife, Mrs. Lata K. Shah, are the trustees of the General Partner and have voting and dispositive control over the securities held by KSFP. Accordingly, Mr. Shah and Mrs. Shah may be deemed to beneficially own the securities held by KSFP.