Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 472

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 472
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 offerings. We also have indebtedness that is in default in excess of our current capital resources (see “Management’s
Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in our Form
10-Q for the quarter ended December 31, 2024). On June 18, 2024, the Company entered into a securities purchase agreement with
certain institutional accredited investors (the “June Aegis Securities Purchase Agreement”) pursuant to which the
Company issued and sold an aggregate of $3,600,000 in principal amount of notes (the “June Notes”) and warrants to
purchase up to an aggregate of 1,267,728 shares of Common Stock (which takes into account an adjustment following the Company’s
Share Combination Event that was effective on October 22, 2024) (the “June Warrants”) for gross proceeds of $3,000,000.

Further, on November 7, 2024,
the Company closed the November 7 Placement for gross proceeds of $9.15 million (including $2.5 million of which was provided by one of
the Company’s directors) (before deduction of fees to the placement agent and other offering expenses payable by the Company). The
Placement Agent in this offering acted as exclusive placement agent in the November 7 Placement. At closing of the November 7 Placement,
the Company issued an aggregate of 2,137,850 units at a price of $4.28 per unit, each unit consisting of one share of Common Stock (or
pre-funded warrant in lieu thereof), two November Series A Warrants (as hereinafter defined) each to purchase one share of Common Stock
and a November Series B Warrant (as hereinafter defined) to purchase such number of shares of Common Stock, as determined on the November
Reset Date. As a result of the November 7 Placement, the Company received $3.62 million of cash and cash equivalents after giving effect
to offering fees and expenses, the payment of $3.8 million to the holders of the Company’s June 2024 notes and a holdback of $0.2
million for indemnification of the Placement Agent as described in more detail herein. The Company believes that current cash and cash
equivalents will allow the Company to continue operations through December 31, 2024, assuming that the Company makes partial payments
on its currently outstanding indebtedness and future accruals, however there can be no assurance that