Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 238

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 238
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12 months and ten trading days following the issuance date of the December Series A Warrants (the “Reset Date”). The reset occurring on the Reset Date would occur if the price of the Common Stock, at such time, determined by a volume weighted average formula (the “VWAP Formula”) is less than the per unit purchase price on the Closing Date, and, if so, the exercise price would be reduced to such lower price and the number of shares exercisable would be increased so that the aggregate exercise price of the Series A Warrants would remain the same. For the purposes of determining the reset price, the VWAP Formula is subject to a floor price of $6.24. As of the date hereof, the December Series A Warrants have all been adjusted to the floor price of $6.24. In addition, the December Series A Warrants include a provision that resets the exercise price with a proportionate adjustment to the number of shares underlying the December Series A Warrants in the event of a reverse split of the Company’s Common Stock at any time after the issuance date (a “Share Combination Event”). In the event of a Share Combination Event, the exercise price of the December Series A Warrants will be reset to a price equal to the lesser of (i) the then exercise price and (ii) the lowest volume weighted average price (VWAP) during the period commencing five trading days immediately after the date the Company effects a reverse stock split (the “Event Market Price”). Since the November Series A Warrants have all been adjusted to the floor price of $6.24, no further adjustments will be made in the event of a Share Combination Event. The December Series A Warrants are also subject to full ratchet anti-dilution protection for any issuances of Company securities (other than certain excluded issuances) at a price or effective price (as determined in accordance with the terms of the December Series A Warrants, the “Dilutive Issuance Price”) that is less than the then current exercise price of the December Series A Warrants following the issuance date (a “Dilutive Issuance”). In the event of a Dilutive Issuance, the exercise price of the December Series A Warrants will be reduced to the Dilutive Issuance Price, subject to the December Floor Price. Upon any adjustment pursuant to a Dilutive Issuance, the number of shares of Common Stock exercisable under the December Series A Warrants would be increased so that the aggregate exercise