Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 120

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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4.99% or 9.99% of the shares of Common Stock outstanding. Also issued along
with the shares of Common Stock and/or the Pre-Funded Warrants were (x) Series A Warrants to initially purchase up to an aggregate of
4,804,491 shares of Common Stock, which does not reflect the Second Reverse Split, subject to certain adjustments and (y) Series B Warrants
to initially purchase no shares of Common Stock, subject to certain adjustments as provided in the Series B Warrants. As a result of the
First Closing, the Company received $1,249,911 of cash and cash equivalents after giving effect to offering fees and expenses.

On June 24, 2025, the Company closed two Securities
Purchase Agreements (each, a “Purchase Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“DLL”),
and Boot Capital LLC, a Delaware limited liability company (“Boot”) (both investors collectively “June 2025 Noteholders”),
respectively, in connection with a private placement offering of convertible bridge notes (each, a “Note” and collectively,
the “Notes”) in the aggregate principal amount of $290,240.00 and $111,760.00, respectively. Pursuant to the Purchase Agreements,
DLL purchased a Note in the original principal amount of $290,240.00 with an original issue discount of $30,240.00 and net proceeds to
the Company of $250,000.00, after fees. Boot purchased a Note in the original principal amount of $111,760.00 with an original issue discount
of $11,760.00 and net proceeds to the Company of $100,000.00. Each Note bears interest at a rate of 12% per annum and is due on March
30, 2026. The Notes include scheduled installment repayments, and may be prepaid in full by the Company at a discount to the outstanding
balance. The Notes are subject to default interest at a rate of 22% per annum and include customary events of default and covenants.

76

The Company believes that
current cash and cash equivalents will allow the Company to continue operations through September 30, 2025, assuming that the Company
makes no payments on its currently outstanding indebtedness and only pays current operating accruals, however there can be no assurance
that this will be the case. Even if our current cash position supports operations through September 30