Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 31

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 31
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arrants Proposal – the combined maximum number of shares of Common Stock that could be issued would represent
approximately 6,315% of the shares of our Common Stock outstanding on the Record Date.

Accordingly, the issuance
of such shares will result in significant dilution to our stockholders, and will substantially reduce our stockholders’ percentage
interest in the voting power of the Company. In addition, the sale or any resale of the shares of Common Stock underlying the Reg D Investors
Bridge Warrants and/or the Institutional Investors Bridge Warrants, if Proposal 1 is also approved by stockholders, could cause the market
price of our Common Stock to decline further.

Consequence of a Failure to Provide Stockholder Approval

If our stockholders do not
approve the Reg D Investors Bridge Warrants Proposal, the Reg D Investors Bridge Warrants will not be exercisable. However, the Company
will thereafter be required to hold additional meetings at least one time every sixty (60) days until the earlier of the date stockholder
approval is obtained or the Reg D Investors Bridge Warrants are no longer outstanding. Additionally, it may be difficult for the Company
to raise additional capital if stockholder approval is not obtained.

Vote Required

The approval of this proposal
requires the affirmative vote of the majority of shares cast on the proposal. Abstentions and broker non-votes will have no effect on
the outcome of this proposal. Notwithstanding the foregoing, to the extent a holder of Common Stock as of the Record Date is also a holder
of Reg D Investors Bridge Warrants, such holder cannot vote on this proposal.

Recommendation of the Board

THE BOARD UNANIMOUSLY RECOMMENDS THAT THE STOCKHOLDERS VOTE “FOR” THE REG D INVESTORS BRIDGE WARRANTS PROPOSAL.

<div align='center'>14

PROPOSAL 3

THE 2023 PLAN AMENDMENT PROPOSAL</div>

Introduction

The stockholders are being
asked to approve an amendment to the 2023 Plan by amending Section 4(a) to increase the number of shares of Common Stock reserved for
issuance with respect to awards granted under the 2023 Plan, on a one time basis, from the 392,189 shares of Common Stock currently reserved
for issuance under the 2023 Plan by adding a number of additional shares of Common Stock equal to 15% of the number of shares of Common
Stock issued and outstanding on March 31, 202