Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 945

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1
Chunk 945
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 upon
adjustments included in our existing securities. For example, on June 18, 2024, we closed a private placement transaction of notes and
warrants for $3 million of gross proceeds, on November 7, 2024, we closed a private placement transaction of shares and warrants for $9.15
million of gross proceeds, on December 24, 2024, we consummated the First Closing of that December 2024 offering in which we issued shares
and warrants for $5,484,843 of gross proceeds, and on and January 31, 2025, we consummated the Second Closing of the December 2024 Offering
in which we issued shares and warrants for $1.44 million. On March 31, 2025, we consummated the Third Closing of the December 2024 Offering
wherein the Company issued securities for an aggregate of $15,639,099 without receiving any cash or cash equivalents as the securities
were issued to investors either (i) as consideration for waiving certain rights that such investors may have had in connection with a
most favored nations provision included in the transaction documents for a prior financing of Zoomcar, Inc. or (ii) to settle outstanding
amounts owed by the Company to its Placement Agent and the Legal Counsels.

117

On June 24, 2025, the Company
has issued a bridge note to certain investors (1800 Diagonal Lending LLC, and Boot Capital LLC) totaling $402,000 at a discount of
$42,000. The note is repayable in five monthly installments beginning November 30, 2025, and maturing on March 31, 2026, with interest
accruing at 12% per annum on the outstanding principal. The Company received net proceeds of $350,000 after adjusting issuance
cost of $10,000. In the event of an uncured default under either of the Bridge notes, the holder has the right to elect to convert
the outstanding amount (includes principal, accrued interest, default interest, and other fees as applicable) into the Company’s
Common stock at a conversion price equal to 75% of the lowest trading price of the Company’s Common stock during the fifteen trading
days immediately prior to the applicable conversion date.

On July 31, 2025 , the Company
further issued to certain investors (Boot and DLL) convertible Bridge notes for a total principal