Roadzen shares are trading lower. The company announced the CEO and Chairman agreed to exchange $3.5 million of short-term debt for equity.
Portfolio Pulse from Benzinga Newsdesk
Roadzen shares are trading lower after the company announced that the CEO and Chairman agreed to exchange $3.5 million of short-term debt for equity.
July 18, 2024 | 4:19 pm
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Roadzen shares are trading lower following the announcement that the CEO and Chairman have agreed to convert $3.5 million of short-term debt into equity.
The conversion of debt to equity can be seen as a dilution of existing shares, which often leads to a decrease in stock price. The market's negative reaction suggests investors are concerned about the dilution effect.
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