Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 310

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 310
---
 requires the Stockholder's equity to be atleast $ 2.5million on or before March 31, 2025 (iii) The Company must file a public disclosure describing any transactions undertaken by the Company to increase its equity and providing an indication of its equity following those transactions on or before March 31,2025 (iv) The Company must provide the Panel with an update on its fundraising plans, updated income projections for the next 12 months, with all underlying assumptions clearly stated on or before March 31, 2025.

(C) On January 31, 2025, the Company entered into a securities purchase agreement with certain additional accredited investors, for the second closing of the December 2024 Offering (the “Second Closing”). In connection with the second closing, the Company issued 1,049,796shares of common stock of the Company, Pre-funded warrants issued to certain investors, at their option, exercisable for an aggregate of up to 872,000shares of Common Stock, Series A Warrants to initially purchase up to an aggregate of 4,804,491shares of Common Stock and Series B Warrants to purchase initially 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 $ 3million. The Securities were offered at a price of $ 1.56. Out of the total proceeds of $ 3million, the Company did not receive any cash proceeds with respect to Securities with a subscription price of $ 1.56million, as those Securities were issued in consideration for the settlement of litigation with Randall Yanker. Hence, the Company raised gross proceeds of $ 1.44million and net proceeds of $ 1.25million after deduction of offering expenses amounting to $ 0.2million.

(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 $ 15.9million towards breach of contract claims, as well as costs, attorneys’ fees, and interest on the $ 15.9million 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