Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 97

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 97
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 share of Common Stock and a Series B Warrant to purchase such number of shares of Common Stock, as determined on the Reset Date (as described below). The purchasers were provided with the option to have all or a portion of the shares of Common Stock issued pursuant to Pre-Funded Warrants to the extent that the issuance of shares of Common Stock would cause any of such purchaser to beneficially own more than 4.99% or 9.99% of the shares of Common Stock outstanding, at the option of the purchaser. The Series A Warrants are exercisable for a period of five years from the date that they are initially exercisable, at an initial exercise price of $4.03 per share, which exercise price is currently $0806 per share. The exercise price and the number of shares available for exercise pursuant to the Series A Warrants are subject to adjustment, as provided below. The Series B Warrants are exercisable until they are exercised, at an exercise price of $0.0001. The closing of the November Offering occurred on November 7, 2024 (the “November Offering Closing Date”). On the November Offering Closing Date, the Company issued to the purchasers 1,302,850 shares of Common Stock and Pre-Funded Warrants to purchase 835,000 shares of Common Stock. Purchasers of Pre-Funded Warrants paid the per unit price of $4.28 less $0.0001 for each Pre-Funded Warrant purchased. The Company raised gross proceeds of $9.15 million and after the deduction of fees and expenses payable to the Placement Agent (defined hereafter) and other offering expenses, including legal fees payable to the Company’s and Placement Agent’s counsel, the net proceeds to the Company was $7.625 million. Proceeds were also used to repay $3.804 million of outstanding indebtedness to debt investors pursuant to an offering in June 2024. Further, $200,000 of the proceeds were held back in a separate escrow account for the payment of any indemnification liabilities suffered by the Placement Agent. After all of such deductions the Company retained net proceeds of $3.621 million. The November Securities Purchase Agreement contains representations, warranties and covenants of the Company and the purchasers customary for this type of transaction. Additionally, the Company has agreed, subject to the Company’s right to raise additional capital currently contemplated in a private placement offering and certain other exceptions, (a) not to issue, enter into any agreement to issue or announce the