Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 275

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1
Chunk 275
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 of Common Stock equals or exceeds $12.00 per share for any 20 trading days within any 30 trading day period
commencing at least 150 days after the Closing; or (y) the date on which Zoomcar completes a liquidation, merger, capital stock exchange,
reorganization or other similar transactions that result in all of Zoomcar’s stockholders having the right to exchange their shares
for cash, securities or other property.

On December 18, 2023, OIAC
and Ananda Trust entered into a First Amendment to Lock-Up Agreement, pursuant to which the lock-up period for the shares held by Ananda
Trust were amended to terminate upon the earlier of (i) twelve months after the Closing Date or (ii) subsequent to the Business Combination,
the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transactions that
results in all of the Company’s stockholders having the right to exchange their shares of cash, securities or other property.

Zoomcar, Inc.

Amendment to Zoomcar’s Investors’
Rights Agreement

Prior to the Closing, Zoomcar
solicited and received consents from requisite outstanding Zoomcar shares to a proposed amendment to an investor rights agreement (the
“IRA”) between Zoomcar and holders of Zoomcar preferred shares (the “IRA Amendment”), which was adopted on December
28, 2023. Pursuant to the IRA Amendment, subject to certain exceptions, the securities issuable in the Business Combination to
each investor party thereto would be restricted from disposing of or hedging any of Company securities beneficially owned by them, including
shares of Company Common Stock issuable upon exercise or conversion of any convertible securities issuable to such investors in connection
with the Merger, including, without limitation, any shares of Common Stock (“Company Shares”) issuable upon the exercise of
options or warrants held by them immediately after the Effective Time, or any other securities convertible into or exercisable or exchangeable
for Company Shares held by them immediately after the Effective Time during the period from the date of the Closing and ending (i) as
to one-third of such shares, six (6) months after the Closing, (ii) as to one-third of such shares, nine (9) months after the Closing,
and (iii) as to the remainder of such shares, twelve (12) months after the Closing, provided that all of such lock-up restrictions will
terminate upon completion of a liquidation