Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 104

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 104
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 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 from the gross proceeds of $15,000,000 raised in this offering, assuming no exercise of the over-allotment option by the underwriter, the net proceeds from this offering will be approximately $13,365,000, after deducting the estimated underwriting discounts and estimated offering expenses payable by us, based on an assumed public offering price of $4.07 per share. If the over-allotment option for shares of Common Stock is exercised in full, we estimate that our net proceeds will be approximately $15,423,750, after deducting the underwriting discount and estimated offering expenses payable by us. We intend to use the net proceeds from this offering for working capital and general corporate purposes, the repayment of certain outstanding payables to vendors in India as described below and to grow our business.

| Name of Vendor                                     |     | Amount in USD |              |     | Quantum of         
 Proceed