Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 282

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 282
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ment option. The underwriter must close out any naked short position by purchasing shares in the
open market. A naked short position is more likely to be created if the underwriter is concerned that there may be downward pressure on
the price of our common shares in the open market that could adversely affect investors who purchased in this offering.

The underwriter also may
impose a penalty bid. This occurs when a particular underwriter repays to the underwriter a portion of the underwriting discount received
by it because the underwriter has repurchased shares sold by or for the account of that underwriter in stabilizing or short covering transactions.

These stabilizing transactions,
short sales, purchases to cover positions created by short sales, the imposition of penalty bids and syndicate covering transactions may
have the effect of raising or maintaining the market price of our common shares or preventing or retarding a decline in the market price
of our common shares. As a result of these activities, the price of our common shares may be higher than the price that otherwise might
exist in the open market. The underwriter may carry out these transactions on the Nasdaq Global Market, in the over-the-counter market
or otherwise. Neither we nor the underwriter make any representation or prediction as to the effect that the transactions described above
may have on the price of the shares and warrants. Neither we, nor the underwriter make any representation that the underwriter will engage
in these stabilization transactions or that any transaction, once commenced, will not be discontinued without notice.

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Other Relationships and Affiliations

The underwriter and its affiliates
are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment
banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities.
The underwriter and its affiliates may from time to time in the future engage with us and perform services for us or in the ordinary course
of their business for which they will receive customary fees and expenses. In the ordinary course of their various business activities,
the underwriter and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related
derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers,
and such investment and securities activities may involve securities and/or instruments of us. The underwriter and its respective affiliates
may also make investment recommendations and/or publish or express independent