Ryde Group to buy US$6.2M secured convertible notes at 8%

Ryde Group Ltd announced that its wholly owned subsidiary, RCSR Pte.

Accepted by SEC EDGAR 10/30/2025 - 06:02 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Ryde Group Ltd announced that its wholly owned subsidiary, RCSR Pte. Ltd., agreed to subscribe for US$6.2 million in secured convertible notes issued by Singapore Electric Vehicles Pte Ltd.

The notes have a twelve-month tenor, carry 8% per annum interest payable semi-annually, and are secured by a fixed charge over SEV’s assets. At maturity, RCSR may convert the outstanding notes into SEV equity; if it does not convert, SEV must repay the full principal plus accrued interest.

Insights

Corporate finance analyst

US$6.2M secured, 12-month convertible notes with 8% coupon.

RCSR will subscribe to SEV’s secured convertible notes with a principal of US$6.2 million. The notes pay 8% annually, with semi-annual interest, and mature in twelve months. A fixed charge over SEV’s assets provides collateral support, improving recovery prospects versus unsecured paper.

Conversion at maturity gives Ryde potential equity exposure if SEV’s value is attractive then. Otherwise, the structure provides contractual cash repayment of principal plus accrued interest. Actual outcomes will depend on SEV’s asset coverage and performance through the twelve-month term.

Key items are the twelve-month maturity, the 8% coupon cash flows, and the collateral package. Subsequent disclosures may detail conversion terms and any financial impact on Ryde’s balance sheet.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ryde Group (RYDE) announce in this 6-K?

RCSR Pte. Ltd. agreed to subscribe for US$6.2 million of secured convertible notes issued by Singapore Electric Vehicles Pte Ltd.

What are the terms of the SEV notes RCSR is subscribing to?

The notes have a twelve-month tenor, pay 8% per annum interest semi-annually, and are secured by a fixed charge over SEV’s assets.

Does Ryde have a conversion option on the notes?

Yes. At maturity, RCSR may convert the outstanding notes into SEV equity.

What happens if RCSR does not convert the notes?

SEV must repay the full principal of US$6.2 million plus accrued interest.

Who are the parties to the agreement?

RCSR Pte. Ltd., a wholly owned subsidiary of Ryde Group Ltd, and Singapore Electric Vehicles Pte Ltd.

How is investor protection addressed in this note structure?

The notes are secured by a fixed charge over SEV’s assets, offering collateral-backed claims.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2025

Commission File Number: 001-41950

Ryde Group Ltd

Duo Tower, 3 Fraser Street, #08-21

Singapore 189352

+65-9665-3216

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

On October 30, 2025, the Company wholly owned subsidiary, RCSR Pte. Ltd. (“RCSR”), has entered into a Notes Subscription and Debenture Agreement (the “Agreement”) with Singapore Electric Vehicles Pte Ltd (“SEV”). Pursuant to this Agreement, RCSR will subscribe for secured convertible notes issued by SEV with a principal amount of US$6.2 million (the “Notes”). The Notes have a tenor of twelve months and carry an interest rate of 8% per annum, payable semi-annually. The Notes are secured by a fixed charge over SEV’s assets. RCSR has the option to convert the outstanding notes into SEV equity at maturity. If RCSR chooses not to convert, SEV is obligated to repay the principal amount in full together with accrued interest.

A press release dated October 30, 2025 announcing the corporate updates included as Exhibit 99.1 of this Report.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press release

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, thereunto duly authorized.

	Ryde Group Ltd
Date: October 30, 2025	By:	/s/ Zou Junming Terence
	Name:	Zou Junming Terence
	Title:	Chairman of the Board of Directors and Chief Executive Officer