Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 20

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 20
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the sale, issuance or potential issuance by the Company of Common Stock (or securities convertible into or exercisable or exchangeable
for Common Stock) equal to 20% or more of the Common Stock or voting power outstanding prior to the execution of the Institutional Offering
Securities Purchase Agreement, unless sold at a price equal to or greater than the Nasdaq Minimum Price).

As described above, we agreed
to seek stockholder approval in connection with the exercise of, and certain of the provisions included in, the Institutional Investors
Bridge Warrants. We are seeking stockholder approval in accordance with the terms of the Institutional Investors Bridge Warrants to (i)
permit the holders of the Institutional Investors Bridge Warrants to exercise the Institutional Investors Bridge Warrants, (ii) be able
to lower the Institutional Offering Floor Price of the Institutional Investors Series A Warrants upon a Dilutive Issuance and a Share
Combination Event and (iii) comply with applicable Nasdaq Listing Rules, including Nasdaq Listing Rule 5635(d). Under Nasdaq Listing Rule
5635(d), stockholder approval is required for a transaction other than a public offering involving the sale, issuance or potential issuance
by an issuer of common stock (or securities convertible into or exercisable for common stock) at a price that is less than the greater
of book or market value of the stock if the number of shares of common stock to be issued is or may be equal to 20% or more of the common
stock, or 20% or more of the voting power, outstanding immediately prior to the date of execution of the Institutional Offering Securities
Purchase Agreement. Since the number of shares issuable upon exercise of the Institutional Investors Bridge Warrants may be in excess
of 20% and the provisions in the Institutional Investors Bridge Warrants may cause even further dilution to stockholders of the Company
following adjustments for Dilutive Issuances and Share Combination Events, the Company requires the stockholder approval described in
the proxy statement to issue 20% or more of our outstanding Common Stock as calculated immediately prior to the date of execution of the
Institutional Offering Securities Purchase Agreement.

Effect of Proposal on Current Stockholders

If the Institutional Investors Bridge Warrants Proposal is adopted,
an aggregate of up to 30,593,008 shares of Common Stock, consisting of up to a maximum of 21,378,500 shares of Common Stock issuable upon
exercise of the Institutional Investors Series A Warrants, based on an Institutional Offering Floor Price of