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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 27,
2025
ROADZEN
INC.
(Exact
name of Registrant as Specified in Its Charter)
British
Virgin Islands |
|
001-41094 |
|
98-1600102 |
(State
or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
111
Anza Blvd
Suite
109 |
|
|
Burlingame,
California |
|
94010 |
(Address
of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s
Telephone Number, Including Area Code: (347) 745-6448
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on which registered |
Ordinary
Shares, par value $0.0001 per share |
|
RDZN |
|
The
Nasdaq Stock Market LLC |
Warrants,
each warrant exercisable for one ordinary share, each at an exercise price of $11.50 per share |
|
RDZNW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement.
On
July 27, 2025, Roadzen Inc. (the “Company”) entered into a placement agency agreement (the “Agency Agreement”)
with Maxim Group LLC (the “Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with
a purchaser for the purchase and sale, in a best efforts offering (the “Offering”), of 1,730,769 of the Company’s ordinary
shares, par value $0.0001 per share (“Ordinary Shares”), at an offering price of $1.30 per Ordinary Share.
The
Offering closed on July 29, 2025. The Company received gross proceeds of $2,249,999.70 in connection with the Offering, before deducting
Placement Agent fees and other Offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering
for working capital and general corporate purposes. The Company may also use a portion of the net proceeds to repay indebtedness outstanding.
The
1,730,769 Ordinary Shares sold in the Offering were offered and sold pursuant to the Company’s registration statement on Form S-3
(File No. 333-282966), previously filed with the Securities and Exchange Commission (the “SEC”) on November 1, 2024 and declared
effective on November 12, 2024, including the base prospectus contained therein and a prospectus supplement dated July 27, 2025.
As
part of its compensation for acting as Placement Agent for the Offering, the Company paid the Placement Agent a cash fee of 6.0% of the
aggregate gross proceeds and $25,000 as reimbursement of the Placement Agent’s accountable expenses. For a period of six (6) months
from July 29, 2025, the Company will pay the Placement Agent a cash fee equal to 6.0% of the gross proceeds of any equity, equity-linked,
or debt financing, or any other capital raising activity received by the Company from the purchasers introduced to the Company by the
Placement Agent related to the Offering.
The
Agency Agreement and the Purchase Agreement contain customary representations, warranties and covenants made by the Company. They also
provide for customary indemnification by the Company for losses or damages arising out of or in connection with the Offering, among other
things. In addition, pursuant to the terms of the Agency Agreement, the Company has agreed for a period of 20-days from July 29, 2025,
subject to certain exceptions, not to (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any
Ordinary Shares or Ordinary Share equivalents, other than certain exempted issuance, or (ii) file any registration statement or any amendment
or supplement thereto, other than the prospectus supplement in connection with the Offering or a registration statement on Form S-8 in
connection with any employee benefit plan.
The
foregoing descriptions of the Agency Agreement and the Purchase Agreement do not purport to be complete and are qualified in their entirety
by reference to the copies of the Agency Agreement and the Purchase Agreement, which are filed herewith as Exhibits 10.1 and 10.2, respectively.
The
representations, warranties and covenants contained in the Agency Agreement and the Purchase Agreement were made only for purposes of
such agreement and as of specific dates, were solely for the benefit of the parties to the applicable agreement and may be subject to
limitations agreed upon by the contracting parties. Accordingly, each of the Agency Agreement and the Purchase Agreement is incorporated
herein by reference only to provide investors with information regarding the terms of such agreement, and not to provide investors with
any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company’s
periodic reports and other filings with the SEC.
The
legal opinion, including the related consent, of Maples & Calder relating to the issuance and sale of the Ordinary Shares issued
in the Offering is filed as Exhibit 5.1 hereto.
Item
8.01 Other Events.
On
July 28, 2025, the Company issued a press release announcing the pricing of the Offering. A copy of the press release is attached as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
Number |
|
Description
of Exhibit |
|
|
|
5.1 |
|
Opinion of Maples & Calder. |
10.1 |
|
Form of Placement Agency Agreement, dated July 27, 2025. |
10.2 |
|
Form of Securities Purchase Agreement, dated July 27, 2025. |
23.1 |
|
Consent of Maples & Calder (included in Exhibit 5.1). |
99.1 |
|
Press Release dated July 28, 2025. |
104 |
|
Cover
page interactive data file (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
ROADZEN INC. |
|
|
|
Date: July 31, 2025 |
By: |
/s/ Jean-Noel Gallardo |
|
Name: |
Jean-Noel Gallardo |
|
Title: |
Chief Financial Officer |