Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 38

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 38
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 days immediately after the date the Company effects a reverse stock split, subject to a floor price of $2.832 for the June Warrants, $0.806 for the November Series A Warrants and $0.312 for the December Series A Warrants and the January/February Series A Warrants (as may be adjusted in the future for any stock dividend, stock split, stock combination, reclassification or similar transaction, the “Floor Price”). The June Warrants, the November Series A Warrants, the December Series A Warrants and the January/February Series A Warrants are also subject to full ratchet anti-dilution protection for any issuances of Company securities (other than certain excluded issuances) at a price or effective price that is less than the then current exercise price of the warrants following the issuance date. In the event of a Dilutive Issuance, the exercise price of the June Warrants and the November Series A Warrants will be reduced to the lower of the Dilutive Issuance Price and the lowest VWAP during the five consecutive trading days commencing after the date of the Dilutive Issuance, in each case, subject to the Floor Price, and there will be a proportionate adjustment to the number of shares underlying such warrants The exercise price of the December Series A Warrants and the January/February Series A Warrants will be reduced to the Dilutive Issuance Price, subject to the Floor Price, and there will be a proportionate adjustment to the number of shares underlying the such warrants. Further, the June Warrants, the November Series A Warrants, the December Series A Warrants and the Series January/February Series A Warrants provide that if the Company enters into a Variable Rate Transaction (as defined in each class of warrant), then such warrants will automatically adjust down to the lowest price that the Company shall be deemed to have issued shares of Common Stock at the lowest exercise price at which such Warrants herein may be exercised. As a result, to the extent that any future offering is deemed a Variable Rate Transaction (in particular, upon receipt of stockholder approval), the June Warrants and the November Series A Warrants will be adjusted down to the lowest respective Floor Price in each of the Offerings (which will trigger an adjustment of the Series A Warrants down to the Floor Price as well) and in the future may be adjusted down to their respective Floor Prices. The exercise price of the December Series A Warrants and January/February Series A Warrants would be similarly