Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 947

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1
Chunk 947
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 of $71,000 after adjusting issuance cost of $4,000from the issuance and closing of the
Primary Notes. Apart from the events of default under the AES Notes that maty trigger conversion, the AES Notes are convertible at the
option of the holder at any time for the then outstanding amounts (including principal, accrued interest, default interest, and other
fees as applicable) into the Company’s Common stock at a conversion price equal to 72.5% of the average of the three lowest trading
prices of the Common Stock as reported on the OTC Markets on which the Company’s shares are then traded or any exchange upon which
the Common Stock may be traded in the future, for the seven prior trading days including the day upon which a Notice of Conversion is
received by the Company.

On August 24, 2025, the Company
closed a Securities Purchase Agreement (“CFI SPA”) with CFI CAPITAL LLC (“CFI”) in connection with purchase of
convertible redeemable notes. Pursuant to the CFI SPA, CFI purchased a convertible for a principal amount of $150,000 at an original issue
discount of $15,000. The note is repayable in 12 months maturing on August 24, 2026 with interest accruing at 6 % per annum on the outstanding
principal. The Company received net proceeds of $130,000 after adjusting issuance cost of $5000. This note is subject to a default penalty
amounting to increase in the principal amount by 50% and includes customary events of default and covenants.

The amount of shares of Common
Stock issued or issuable upon exercise or conversion of securities issued in connection with a capital raise or an investment or acquisition
or any such bridge notes could constitute a material portion of the then-outstanding shares of the Common Stock. Any issuance of additional
securities in connection with capital raising activities, investments or acquisitions may result in additional dilution to our stockholders.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

There were no other sales
of equity securities during the period covered by this Report that were not registered under the Securities Act and were not previously
reported in a Current Report on Form 8-K filed by the Company except as set forth below:

On July 31, 2025, the Company
issued a $56,500 aggregate principal amount of unsecured bridge promissory note (the “Boot Note”) to Boot Capital LLC