Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 540

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 540
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”)), including our directors, executive officers, and other affiliates.

120

In addition, the shares of Common Stock
reserved for future issuance under the Incentive Plan will become eligible for sale in the public market once those shares are issued,
subject to any applicable vesting requirements, lock-up agreements and other restrictions imposed by law. As of January 31, 2025, a total
of 392,188 shares of Common Stock have been reserved for future issuance under the Incentive Plan.

On February 11, 2025, the Company has
filed Form S-8 Registration Statement with the U.S. Securities and Exchange Commission (SEC), to register an aggregate of 392,189 shares
of Common Stock, which are reserved for issuance under Zoomcar Holdings, Inc. 2023 Equity Incentive Plan. This Registration Statement
is being filed in order to register the Registrant’s Common Stock that may be offered or sold to participants under the Plan, either
directly or upon exercise of options or other share-based awards granted under the Plan.

Accordingly, shares registered under such a registration statement
will be available for sale in the open market upon the effectiveness of the registration statement.

In the future, we may also issue our securities to raise capital or
in connection with investments or acquisitions. We may also issue additional securities 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.

The amount of shares of Common
Stock issued or issuable upon exercise or conversion of securities issued in connection with a capital raise or an investment or acquisition
could constitute a material portion of the then-outstanding shares of the Common Stock. Any issuance of additional securities in connection
with capital raising activities, investments or acquisitions may result in additional dilution to our stockholders.

Our entering into settlements with ACM could
result in a breach of stand