Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 37

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1
Chunk 37
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ness that is in default in excess of our current capital resources (see “Management’s
Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in in this
Annual Report on Form 10-K for the year ended March 31, 2025). On June 18, 2024, the Company entered into a securities purchase
agreement with certain institutional accredited investors (the “June Aegis Securities Purchase Agreement”) pursuant to which
the Company issued and sold an aggregate of $3,600,000 in principal amount of notes (the “June Notes”) and warrants to purchase
up to an aggregate of 1,267,728 shares of Common Stock (which takes into account an adjustment following the Company’s Share Combination
Event that was effective on October 22, 2024, but not reflecting the Reverse Stock Splits) (the “June Warrants”) for gross
proceeds of $3,000,000.

Additionally, on November
7, 2024, the Company closed the November 7 Placement for gross proceeds of $9.15 million (including $2.5 million of which was provided
by one of the Company’s directors) (before deduction of fees to the placement agent and other offering expenses payable by the Company).
The Placement Agent in this Offering acted as exclusive placement agent in the November 7 Placement. At closing of the November 7 Placement,
the Company issued an aggregate of 2,137,850 units at a price of $4.28 per unit, each unit consisting of one share of Common Stock (or
pre-funded warrant in lieu thereof), two November Series A Warrants (as hereinafter defined) each to purchase one share of Common Stock
and a November Series B Warrant (as hereinafter defined) to purchase such number of shares of Common Stock, as determined on the November
Reset Date, which does not reflect the Second Reverse Split. As a result of the November 7 Placement, the Company received $3.62 million
of cash and cash equivalents after giving effect to offering fees and expenses, the payment of $3.8 million to the holders of the Company’s
June 2024 notes and a holdback of $0.2 million for indemnification of the Placement Agent as described in more detail herein.

Further, on December 24,
2024, the Company held the First Closing of this Offering for gross proceeds of $5,484,843 (including $50,000 of