NEW YORK, July 26, 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 it secured an extension of the maturity date and an additional $4.0 million of capital from Mizuho Securities USA LLC, a leading global investment bank and securities firm. The amended facility increases the loan from $7.5 million to $11.5 million of 15% senior secured notes, without any additional warrants, and extends the maturity date to December 31, 2024. "We greatly appreciate Mizuho's continued belief in our vision. This extension and facility increase, combined with management's recent debt-to-equity exchange, advances our continuing efforts to simplify the company's balance sheet and address inherited going-public costs - an effort we will look to conclude this summer. As Roadzen's technology continues to gain market traction, these steps are important in paving the way to achieving a market valuation that reflects our potential," commented Rohan Malhotra, Roadzen's founder & CEO. About Roadzen Inc. Roadzen Inc. (NASDAQ:RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, ...