Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 473

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 473
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 and expenses payable to the Placement Agent and other offering expenses,
including legal fees payable to the Company’s and Placement Agent’s counsel, the net proceeds to the Company was approximately
$4.79 million.

On January 31, 2025, the
Company entered into a securities purchase agreement, in connection with the second closing of the Offering (the “Second Closing”)
pursuant to a Confidential Private Placement Memorandum, dated December 3, 2024. The Securities were offered at a for an aggregate amount
of $3 million; provided, however, that the Company did not receive any cash proceeds with respect to Securities with a subscription price
of $1.56 million of such amount, as those Securities were issued in consideration for the settlement of litigation with a claimant. The
Company received balance net proceeds of approximately $1.25 million after the deduction of fees and expenses payable to the Placement
Agent and other offering expenses, including legal fees payable to the Company’s and Placement Agent’s counsel. 

65

Bridge Note:

On June 23, 2025, the Company
entered into Securities Purchase Agreements with certain institutional accredited investors pursuant to which the Company issued Bridge
notes for a total principal amount of $402,000 with an initial issue discount of $42,000. The net proceeds disbursed to the Company were
$350,000 after deduction of legal and due diligence fees of $10,000. Additionally, $45,500 (i.e., 13% of net proceeds) is due to the placement
agent relating to the issuance of these bridge notes which is directly attributable to the loan raised, thereby bringing the total debt
issuance costs to $55,500.

On July 31, 2025 , the Company
entered into Securities Purchase Agreements with certain institutional accredited investors pursuant to which the Company issued Bridge
notes for a total principal amount of $206,225 with an initial issue discount of $23,725. The net proceeds disbursed to the Company were
$175,000 after deduction of legal and due diligence fees of $7,500. Hence, the total debt issuance costs amounts to $7,500.

Issue of Convertible Notes

On August 24, 2025 , the Company entered into
Securities Purchase Agreements with certain institutional accredited investors pursuant to which the Company issued convertible redeemable
notes for a total principal amount of $225,000 with an initial issue discount of $15,000. The net proceeds