Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 1056

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 1056
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 for it.

115

Future sales, or the perception of future
sales, by us or our stockholders in the public market could cause the market price for the Common Stock to decline.

The sale of shares of our
Common Stock on the public market, or the perception that such sales could occur, could harm the prevailing market price of shares of
Common Stock. These sales, or the possibility that these sales may occur, also might make it more difficult for us to sell equity securities
in the future at a time and at a price that it deems appropriate.

As of November 12, 2025
we have a total of 6,902,727 shares of Common Stock outstanding (i) without giving effect to any awards that may be issued under the
Incentive Plan and (ii) assuming no exercise of the outstanding options and warrants. All shares currently held by public
stockholders and all of the shares issued in the Business Combination to former Zoomcar Stockholders are freely tradable without
registration under the Securities Act (except for the Common Stock that are the subject of resale registration statement pending
effectiveness or filing ), and without restriction by persons other than our “affiliates” (as defined under Rule 144
under the Securities Act, (“Rule 144”)), including our directors, executive officers and other affiliates.

We filed resale registration
statements on December 12, 2024, to register for resale a total of shares of Common Stock 660,320 (13,206,386 shares of Common Stock prior
to giving effect to the Second Reverse Split) including shares of Common Stock issuable upon exercise of outstanding warrants.

We also filed resale registration
statements March 4, 2025, to register for resale a total of 6,682,720 shares of Common Stock (133,654,397 shares of Common Stock prior
to giving effect to the Second Reverse Split) including shares of Common Stock issuable upon exercise of outstanding warrants.

All of the remaining Registrable
Securities in the above mentioned offerings were included in those registration statements. These registration statements are still pending
and a large number of such Registrable Securities continue to be unregistered, but upon effectiveness of that registration statement,
it is likely that many of the securities registered for resale thereunder will be sold.

As of March 31, 2025, the Company
entered into a securities purchase agreement, substantially in the same form as the December 2024 SPA and the January 2025 SPA with