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

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 25
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gross proceeds received by the Company in each of those offerings from investors on a “tail list” provided by the Prior Placement
Agent and warrants to purchase up to 7% of the aggregate number of shares of common stock issued in each of the offerings to investors
on the “tail list,” which warrants are to have the same terms and warrants offered to investors in each of the offerings,
with an exercise price equal to 125% of the applicable offering price.

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With
respect to the offering closed in June 2024, the claim is made with respect to one investor claimed to be on the “tail list,”
for a cash fee of 7% of the aggregate gross proceeds received from such investor and 7% warrant coverage, with respect to that investor,
but no specific amount is claimed. With respect to the offering closed in November 2024, there is a claim for a cash fee of $77,000 and
warrants to purchase an aggregate of 17,991 shares of common stock at an exercise price of $5.35 per share, for the same investor.”
With respect to the offering closed in December 2024, there is a claim for a cash fee of 7% of the aggregate gross proceeds received from
the same investor and 7% warrant coverage, with respect to that investor, but no specific amount is claimed. A similar claim was also
made to the extent that such investor participated in the offering closed in February 2025.

Since
the Demand Letter was received by the Company on the same date as this Supplement No. 3, the Company is currently reviewing with legal
counsel and has not yet determined the validity of any of the claims and how it plans to respond.

On October 22, 2024, the
Company effected the First Reverse Split in a ratio of a one-for-one hundred (1:100) of the Company’s issued and outstanding Common
Stock. As a result of the First Reverse Split, every one hundred (100) shares of the Company’s issued and outstanding Common Stock
was automatically converted into one share of Common Stock, without any change in the par value per share. In addition, (i) a proportionate
adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options
and warrants to purchase shares of Common Stock, and (ii) the number of shares reserved for issuance pursuant to the Company’s equity