Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 56

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 56
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 register the Modified Fee Shares and remove any restrictive legends thereon upon expiration of the applicable lock-up period, in accordance with the terms of the Fee Modification Agreement, following notice and reasonable opportunity to cure on the part of the Company.

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Zoomcar, Inc.

Series D Financing

In multiple closings during
December 2020, January 2021 and February 2021, Zoomcar sold an aggregate of 19,016,963 shares of Series D Preferred Stock (“Series
D Shares”) to investors including Ford Next LLC (“Ford”), entities affiliated with OurCrowd (Investment In Zoomcar),
L.P. (“OurCrowd”) and Sequoia Capital India Investments IV (“Sequoia”), each of which is a beneficial owner of
more than 5% of Zoomcar’s outstanding stock or was at such ownership level at the time of these transactions. The Series D Shares
consisted of 2,284,811 shares sold for cash at a purchase price of $2.2267, for an aggregate purchase price of $5.1 million, and 16,732,152
shares issued upon conversion of $29.8 million principal and accrued interest of Convertible Promissory Notes (“Series D Notes”)
at a conversion price of $1.7814 per share. In conjunction with these transactions, in December 2020, investors domiciled in India, including
Mahindra & Mahindra Ltd. (“Mahindra”), a beneficial owner of more than 5% of Zoomcar’s outstanding stock and an
affiliate of a person who was then serving on Zoomcar’s Board of Directors, purchased an aggregate of 149,986 shares of Series P2
Preferred Stock of Zoomcar India (“Series P2 Shares”) upon conversion of $3.9 million principal and accrued interest of Optional
Convertible Debentures (“OCDs”); such Series P2 Shares are exchangeable for an aggregate of 2,769,758 Series D Shares upon
the approval of the Reserve Bank of India (the “RBI”). The following table summarizes purchases of these securities
by related persons:

| Purchaser |     | Series D  
 Shares(1) |           |     | Aggregate 
 Purchase  
 Price(2)  |           |
|:----------|:----|:----------|----------:|:----|:----------|----------:|
| Ford      |     |           | 1,899,978 |     |