Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 365

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 365
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 date (a “Share Combination Event”).
In the event of a Share Combination Event, the exercise price of the warrants will be reset to a price equal to the lesser of (i) the
then exercise price and (ii) the lowest volume weighted average price (VWAP) during the period commencing five trading days immediately
after the date the Company effects a reverse stock split, subject to a floor price of $2.832 for the June Warrants, $0.806 for the November
Series A Warrants and $0.312 for the Series A Warrants issued at the First Closing (as may be adjusted in the future for any stock dividend,
stock split, stock combination, reclassification or similar transaction, the “Floor Price”). The June Warrants, the
November Series A Warrants and the Series A Warrants issued at the First closing are also subject to full ratchet anti-dilution protection
for any issuances of Company securities (other than certain excluded issuances) at a price or effective price that is less than the then
current exercise price of the warrants following the issuance date. In the event of a Dilutive Issuance, the exercise price of the June
Warrants and the November Series A Warrants will be reduced to the lower of the Dilutive Issuance Price and the lowest VWAP during the
five consecutive trading days commencing after the date of the Dilutive Issuance, in each case, subject to the Floor Price, and there
will be a proportionate adjustment to the number of shares underlying such warrants The exercise price of the Series A Warrants issued
at the First closing will be reduced to the Dilutive Issuance Price, subject to the Floor Price, and there will be a proportionate adjustment
to the number of shares underlying the such warrants. Further, the June Warrants, the November Series A Warrants and the Series A Warrants
issued at the First Closing provide that if the Company enters into a Variable Rate Transaction (as defined in each class of warrant),
then such warrants will automatically adjust down to the lowest price that the Company shall be deemed to have issued shares of Common
Stock at the lowest exercise price at which such Warrants herein may be exercised. As a result, to the extent that this Offering is deemed
a Variable Rate Transaction (in particular, upon receipt of stockholder approval), the June Warrants and the November Series A Warrants
will be adjusted down to the lowest respective Floor Price in