Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 949

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 949
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 Agent Series B warrants
to purchase up to maximum of 1,406,370 shares at an exercise price of $0.0001 per share assuming a reset to the Floor Price of $0.312.

Additionally, if, November
Series A Warrants are reset or ratcheted down to their respective Floor Prices, then there would be (in each case subject to rounding)
(i) investor November Series A Warrants to purchase 21,378,500 shares of Common Stock at an exercise price of $0.806 per share, (ii)
November 2024 Placement Agent warrants to purchase 1,068,925 shares at an exercise price of $0.806 per share and (iii) November 2024
Placement Agent Series A warrants to purchase 2,137,850 shares at an exercise price of $0.806 per share.

93

If December Series A Warrants
are reset or ratcheted down to their respective Floor Prices, then there would be (in each case subject to rounding) (i) investor December
Series A Warrants to purchase 54,252,769 shares of Common Stock at an exercise price of $0.312 per share, (ii) December 2024 Placement
Agent warrants to purchase 2,197,456 shares at an exercise price of $0.312 per share and (iii) December 2024 Placement Agent Series A
warrants to purchase 5,425,275 shares at an exercise price of $0.312 per share.

Further, the warrants issued
in our June 2024 financing contain the “alternative cashless exercise” provision, and the all the warrants issued in
the November and December financing contain reset provisions and full ratchet anti-dilution protection described elsewhere herein.
Because the market for our Common Stock is thinly traded, the sales and/or the perception that those sales may occur, could
adversely affect the market price of our Common Stock. Furthermore, even though the options and warrants (other than the warrants issued
in June 2024,November 2024 and December 2024) are all out of the money, the mere existence of a significant number of shares of Common
Stock issuable upon exercise of these securities may be perceived by the market as having a potential dilutive effect, which could
lead to a decrease in the price of our Common Stock.

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