Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 137

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 137
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 Warrants and maximum number of Series B Warrants as mentioned in the agreement, and (ii) 835,000 Pre-Funded Units, each consisting of one Pre-Funded Warrant, Series A Warrants and maximum number of Series B Warrants as mentioned in the agreement, through the placement agent (collectively referred to “December 2024 Offering”) for a value of $5.48 million. On January 31, 2025, the Company entered into a securities purchase agreement with certain additional accredited investors, for the second closing of the December 2024 Offering (the “Second Closing”). In connection with the second closing, the Company has issued 1,049,796 shares of common stock of the Company, Pre-funded warrants issued to certain investors, at their option, exercisable for an aggregate of up to 872,000 shares of Common Stock, Series A Warrants to initially purchase up to an aggregate of 4,804,491 shares of Common Stock and Series B Warrants to purchase initially no shares of Common Stock and then up to such number of shares of Common Stock, as determined on the Reset Date for an aggregate investment of $3 million. The Securities were offered at a price of $1.56. However, out of the $ 3 million aggregate investments, the Company did not receive any cash proceeds with respect to Securities with a subscription price of $1.56 million, as those Securities were issued in consideration for the settlement of litigation with Randall Yanker. Hence, the Company raised gross proceeds of $1.44 million and net proceeds of $1.25 million after deduction of offering expenses amounting to $0.2 million. Our future capital requirements will depend on many factors, including, but not limited to, our growth, our ability to attract and retain Hosts and Guests, and the scope of future sales and marketing activities. The Company expects to continue to incur net losses and have significant cash outflows from operating activities for at least the next 12 months. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that based on multiple rounds of funding raised by the Company as detailed above under the section titled as “Private Placement of Equity and Warrants”, while this financing resulted in the payment of certain outstanding indebtedness, the Company will still need to raise additional capital imminently in order to have sufficient capital. The Company believes that current cash and cash equivalents will allow the Company to continue operations through December 31,