Group 1 - Roadzen Inc has extended the maturity date of its $11.5 million senior secured notes by 18 months, from December 31, 2025, to June 30, 2027, enhancing its financial flexibility for global growth [1] - The senior secured notes accrue interest at an annual rate of 15% [2] - Roadzen has signed a deal to acquire a majority controlling stake in a licensed commercial auto insurance broker and managing general underwriter based in California, which holds licenses in multiple states [2] Group 2 - The acquisition will enable Roadzen to underwrite specialty transportation and commercial vehicle risks, serving small and mid-sized fleets through national agency networks [3] - The deal will merge the acquired firm with DrivebuddyAI and National Auto Club, creating an integrated platform for telematics, roadside assistance, claims, and distribution in the U.S. commercial auto market [3] - The acquisition is expected to add 90 new fleets, representing over $100 million in potential annual premiums, and contribute more than $8 million in annual revenue at 25% Adjusted EBITDA margins [4] Group 3 - Roadzen projects that the combined platform will exceed $200 million in Gross Written Premium within three years, strengthening its position in the $75+ billion U.S. commercial auto insurance market [4] - Following the announcement, RDZN shares closed lower by 11.70% at $1.510 [4]
EXCLUSIVE: Roadzen Extends $11.5 Million Debt Maturity To 2027 For Financial Flexibility