Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 402

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 402
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,000,000 and d) 36,173 (3,617,333 prior to Reverse Stock Split) shares of common stock were issued to vendors as compensation for services received by the Company which includes 28,667 (2,866,666 prior to Reverse Stock Split) shares issued against liabilities assumed under Reverse Recapitalization amounting to $17,100,000.

The Original Earnout Terms were modified pursuant to the terms and provisions set forth in the Post-Closing Amendment, effective immediately upon the adoption of the Post- Closing Amendment on December 29, 2023 resulting in distribution of 199,994 (19,999,407 prior to Reverse Stock Split) shares of common stock to the holders of common stock, preferred stock and holders of SSCPN of Zoomcar, Inc. as it became distributable to stockholders in accordance with the terms of the Merger Agreement.

The holders of the Common Stock are entitled to receive dividends out of funds legally available therefore at such times and in such amounts as the Board of Directors may determine in its sole discretion. In the event of liquidation, dissolution, distribution of assets or winding up of the Company, whether voluntary or involuntary, after the payment or provision for payment of all debts and liabilities of the Company and any and all preferential amounts to which the holders of the Preferred Stock are entitled with respect to the distribution of the net assets of the Company in liquidation, the holders of Common Stock shall be entitled to share ratably in the remaining net assets of the Company available for distribution.

| 24 (a) | Preferred Stock |

A summary of the Zoomcar, Inc. Preferred Stock authorized, issued and outstanding as of the date of the Reverse Recapitalization is as follows:

|                       |     | As                   
 at December 28, 2023 |             |     |        |            |     |            |       |     |          |             |     |             |             |
|:----------------------|:----|:---------------------|------------:|:----|:-------|-----------:|:----|:-----------|------:|:----|:---------|------------:|:----|:------------|------------:|
|                       |     | Authorized           
 shares               |             |     | Shares 
 issued |            |     | Conversion 
 Ratio      |       |     | Net      
 carrying 
 value    |             |     | Liquidation 
 preference  |             |
| Preferred Stock       |     |                      |             |     |        |