Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 650

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 650
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 Common Stock.

In connection with the Business Combination, we assumed from IOAC 11,500,000
Public Warrants to purchase 115,000 shares of our Common Stock, each Public Warrant exercisable into one hundredth of one share of Common
Stock at an exercise price of $571.00 per full share. In addition, as a result of the Business Combination we issued warrants to the Legacy
Zoomcar warrant holders. As of the date hereof, there are 380,011 of such warrants outstanding, each exercisable to purchase one share
of Common Stock at $300 per share. Further, in June 2024, we issued warrants to purchase shares of Common Stock which
such warrants became exercisable beginning on December 20, 2024. As of the date hereof, such warrants are currently exercisable into 1,394,062
shares of Common Stock at a current exercise price of $2.832 per share, subject to an alternative cashless exercise and other adjustments
and resets as described therein. We also issued the Placement Agent warrants now exercisable for 105,932 shares of Common Stock at a current
exercise price of $2.832 per share, subject to an alternative cashless exercise and other adjustments and resets as described therein.

Additionally,
in the November 7 Placement, we issued November Series A Warrants which when they become exercisable, upon obtaining stockholder
approval for such exercise, will become exercisable into 21,378,500 shares of Common Stock at an exercise price of $0.806 per share and
November Series B Warrants to purchase up to maximum of 9,214,513 shares at an exercise price of $0.0001 per share which assumes the maximum
reset to the Floor Price of $0.806 on the November Reset Date (as defined herein). We also issued the Placement Agent warrants which will
be exercisable on the applicable resale registration statement set forth in such Placement Agent warrant to purchase 1,068,925 shares
at an exercise price of $0.806 per share, Placement Agent November Series A Warrants, which when they become exercisable, upon obtaining
stockholder approval for such exercise, will become exercisable into 2,138,750 shares at an exercise price of $0.806 per share and Placement
Agent November Series B Warrants to purchase up to maximum of 921,451 shares at an exercise price of $0.0001 per share assuming the maximum
reset to