Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 318

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 318
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no shares of Common Stock and then up to such number of shares of Common Stock, as determined on the Reset Date for an aggregate investment
of $ million. The Securities were offered at a price of $ ($ prior to Second Reverse Stock Split). Out of the total proceeds
of $ million, the Company did not receive any cash proceeds with respect to Securities with a subscription price of $ million, as
those Securities were issued in consideration for the settlement of litigation with Randall Yanker. Hence, the Company raised gross proceeds
of $ million and net proceeds of $ million after deduction of offering expenses amounting to $ million.

(D) In August 2022, the Company received a complaint
and a demand for trial by jury from Randall Yanker (complainant) towards non-payment of performance bonus consideration seeking damages
amounting to $ million towards breach of contract claims, as well as costs, attorneys’ fees, and interest on the $ million
amount.

On February 4, 2025, the Company entered into a settlement
agreement with Randall Yanker to settle claims arising out of a certain consulting agreement, dated May 1, 2020, for which claims had
been brought by Mr. Yanker. Pursuant to the Settlement Agreement, the Company agreed to issue an aggregate of (i) ( prior
to Second Reverse Stock Split) shares and/or Pre-Funded Warrants, (ii) Series A Warrants to initially purchase up to an aggregate of
( prior to Second Reverse Stock Split) shares of Common Stock and (iii) Series B Warrants, in connection with the second closing
of December 2024 offering. The settlement agreement is considered a recognized subsequent event and hence, as on December 31, 2024, the
Company has recorded a provision for expense under ‘Accounts payable’ under Condensed Consolidated Balance Sheets for an amount equal
to the fair value of instruments issued on settlement on February 4, 2025 and has recorded the corresponding expense as ‘Loss on litigation
settlement’ under ‘Other income/expense’ in the Condensed Consolidated Statements of Operations.

(E) Unaudited Subsequent Event Post Issuance The Company filed a resale registration statement on March 4, 2025, in relation to November Offering, the December Offering and the January/February Offering, to register for resale a total of 6,682,720 shares of Common Stock (or 133,654,397 shares of Common Stock prior to giving effect to the