Company: ZCARW
Filing Date: 2025-01-21
Form Type: DEF 14A
Source: 0001213900-25-005022
Chunk: 29

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-21
Form: DEF 14A
Chunk 29
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420,000 shares of Common Stock, at an initial exercise price of $0.0001 per
share, subject to adjustment, (iii) Reg D Investors Series A Warrant to purchase up to 8,680,443 shares of Common Stock, at an initial
exercise price of $1.95 per share, subject to adjustment, and (iv) Reg D Investors Series B Warrants for a maximum eligibility of 14,063,700
shares, at an initial exercise price of $0.0001 per share, subject to adjustment.

The foregoing description
of the Reg D Offering does not purport to be complete and is qualified in its entirety by reference to the Reg D Offering Securities Purchase
Agreement, Reg D Investors Bridge Warrants, Reg D Offering Registration Rights Agreement and placement agency agreement relating to the
Reg D Offering, copies of which are filed as Exhibit 10.1, Exhibit 4.1, Exhibit 4.2, Exhibit 4.3, Exhibit 10.2 and Exhibit 10.3 to our
Current Report on Form 8-K filed with the SEC on December 26, 2024.

Why the Company Needs Stockholder Approval

Our Common Stock is listed
on Nasdaq, and as a result, we are subject to Nasdaq’s Listing Rules. We are seeking stockholder approval in order to comply with
Nasdaq Listing Rule 5635 and to fulfill our obligations under the Reg D Investors Offering Securities Purchase Agreement, the Reg D Investors
Bridge Warrants and the other Reg D Offering Transaction Documents.

Nasdaq Listing Rule 5635(c)

Nasdaq Listing Rule 5635(c)
requires stockholder approval for the issuance of securities when a stock option or purchase plan is established or materially amended
or other equity compensation arrangement made or materially amended, pursuant to which shares of Common Stock may be acquired by officers,
directors, employees or consultants of the Company. Hiroshi Nishijima, the Acting Chief Executive Officer of the Company, and Uri Levine,
a consultant to the Company, are each expected to participate in the Reg D Offering and to be holders of Reg D Investors Bridge Warrants.
While we are not asserting that the issuance of the securities, including the Reg D Investors Bridge Warrants, to either of them, in connection
with the Reg D Offering, is equity compensation within the meaning of Rule 5635(c), Nasdaq may deem all or a portion of any arrangement
as compensatory in nature, particularly