Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 104

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 104
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ution to our stockholders. Our permitting certain holders of our Series B Warrants to exercise their Series B Warrants before they may be exercisable under their terms could result in claims and/or litigation against us by our stockholders. The Series B Warrants issued in connection with the December 2024 Offering, the January/February Offering and the March Offering were exercisable for zero shares of Common Stock, until the applicable Reset Date, as defined in the respective Series B Warrants, has been triggered. The applicable Reset Date is triggered on the date that is the later of (a) ten trading days after stockholder approval for the Series B Warrants has been obtained, which occurred at a meeting of stockholders on February 28, 2025 or (b) the earliest of (i) the date on which for ten consecutive trading days all shares of Common Stock registrable under the applicable registration rights agreements (“Registrable Securities”) have become and remained registered pursuant to an effective registration statement that is available for the resale of all Registrable Securities, (ii) the date on which the holder of a Series B Warrant, for ten (10) consecutive trading days, can sell all Registrable Securities pursuant to Rule 144 without restriction or limitation or (iii) 12 months and ten trading days immediately following issuance of the Series B Warrants. Since none of the Registrable Securities issued in connection with the December 2024 Offering, the January/February Offering or the March Offering are currently registered for resale under an effective registration statement, the Reset Date, with respect to the Series B Warrants issued in the December 2024 Offering, the January/February Offering or the March Offering, has not yet been triggered. Notwithstanding, the Board has resolved to grant the holders of such Series B Warrants the right for them to deem the Reset Date to have been triggered using the Floor Price of $6.24 in lieu of the applicable VWAP, to determine the number of shares available for exercise under such Series B Warrants. Because it may be argued that these Series B Warrants are not yet exercisable and the issuance of the shares of Common Stock could have a dilutive effect on all of our other stockholders, there is a risk that we could be subject to claims and potential litigation by our stockholders and any damages we could suffer could have a material adverse effect on our financial situation and operations. 54 USE OF PROCEEDS We estimate that if the maximum amount of gross proceeds of $15,000,000 is raised