Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 934

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 934
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 to the placement agent and other offering expenses payable by the Company). The
Placement Agent in this offering acted as exclusive placement agent in the November 7 Placement. At closing of the November 7 Placement,
the Company issued an aggregate of 2,137,850 units at a price of $4.28 per unit, each unit consisting of one share of Common Stock (or
pre-funded warrant in lieu thereof), two November Series A Warrants (as hereinafter defined) each to purchase one share of Common Stock
and a November Series B Warrant (as hereinafter defined) to purchase such number of shares of Common Stock, as determined on the November
Reset Date. As a result of the November 7 Placement, the Company received $3.62 million of cash and cash equivalents after giving effect
to offering fees and expenses, the payment of $3.8 million to the holders of the Company’s June 2024 notes and a holdback of $0.2
million for indemnification of the Placement Agent as described in more detail herein. The Company believes that current cash and cash
equivalents will allow the Company to continue operations through December 31, 2024, assuming that the Company makes partial payments
on its currently outstanding indebtedness and future accruals, however there can be no assurance that this will be the case. Even if our
current cash position supports operations through the end of December 2024, we cannot assure that this cash will be sufficient in the
longer run and we will be required to obtain a further infusion of cash funds to support our operations or address the indebtedness..

Further, on December 24,
2024, the Company held the First Closing for gross proceeds of $5,484,843 (including $50,000 of which was provided by the Company’s
Chief Executive Officer and $300,000 of which was provided by a consultant to the Company) (before deduction of fees to the placement
agent and other offering expenses payable by the Company). The Placement Agent in this offering acted as exclusive placement agent at
the First Closing. At the First Closing, the Company issued an aggregate of (i) 3,095,925 shares
of Common Stock (ii) Pre-Funded Warrants issued to certain of the investors, at their option, exercisable for an aggregate of up to 420,000
shares of Common Stock, to the extent that the issuance of shares of Common Stock would cause such Investors to beneficially own more