Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 3

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 3
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 As a result, we will likely not receive any additional funds and do not expect to receive any additional
funds upon the exercise of the Series A Warrants. This prospectus also relates to the common shares that are issuable from time to time
upon exercise of each of the Series A Warrants.

In addition, at 4:01 p.m.
Eastern time on the 7th trading day after the date of issuance (the “First Reset Date”), the exercise price of the Series
A Warrants will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest
daily volume weighted average price (“VWAP”) during the period beginning on the 5th trading day after the date of issuance
and ending on the First Reset Date , and (b) 40% of most recent Nasdaq Official Close Price preceding execution of the Underwriting Agreement;
and the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the Series A Warrants on the
issuance date for the common shares underlying the Series A Warrants then outstanding shall remain unchanged. Subsequently, at 4:01 p.m.
Eastern time on the 15th trading day after the date of issuance (the “Second Reset Date”), the exercise price of the Series
A Warrants will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest
VWAP during the period beginning on the 13th trading day after the date of issuance and ending on the Second Reset Date, and (b) 20% of
the most recent Nasdaq Official Close Price preceding execution of the Underwriting Agreement; and the number of shares issuable upon
exercise will be increased such that the aggregate exercise price of the Series A Warrants on the issuance date for the common shares
underlying the Series A Warrants then outstanding shall remain unchanged. Any reduction to the exercise price of the Series A Warrants
and resulting increase in the common shares underlying the Series A Warrants will be subject to a floor price. The floor price will be
equal to 20% of the most recent Nasdaq Official Closing Price of the common shares preceding execution of the Underwriting Agreement.

If all of the Series A Warrants
offered to investors in this offering, including those subject to the underwriter