Company: ZCARW
Filing Date: 2025-01-21
Form Type: DEF 14A
Source: 0001213900-25-005022
Chunk: 19

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-21
Form: DEF 14A
Chunk 19
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 within fifteen (15) days after the Institutional Offering Closing Date, and which registration statement
was filed on December 2, 2024. The Company is required to ensure that the initial registration statement is effective within thirty (30)
calendar days of the filing date (up to forty-five (45) calendar days if the U.S. Securities and Exchange Commission (the “SEC”)
conducts a full review), and which registration statement was declared effective by the SEC
on December 13, 2024 (the effective date of such registration statement, the “Institutional Offering Registration Effective Date”).

In connection with the Institutional
Offering, the Company retained Aegis Capital Corp. (“Aegis”) to act as the placement agent. For acting as the placement
agent, the Company agreed to pay the Aegis, subject to certain exceptions: (i) a cash fee equal to ten percent (10%) of the aggregate
gross proceeds raised by Aegis in the Institutional Offering (five percent (5%) with respect to certain Institutional Investors who were deemed to be “insiders”), (ii) a non-accountable expense allowance of three
percent (3%) of the aggregate gross proceeds raised by Aegis in the offering (one and one-half percent (1.5%) with respect to “insiders”), (iii) a five-year warrant to purchase up to 213,785 shares of Common Stock at an
initial exercise price of $4.03 per share, subject to adjustment, and (iv) Series A Placement Agent Warrants and Series B Placement Agent
Warrants, in substantially the same form as the Institutional Investors Series A Warrants
and Institutional Investors Series B Warrants, respectively, for ten percent (10%) of the
number of shares of Common Stock exercisable by the Institutional Investors pursuant to the Institutional Investors Series A Warrants and the Institutional Investors Series B Warrants issued
to the Institutional Investors. The Company also agreed to pay a warrant solicitation fee
of five percent (5%) of the proceeds received from the cash exercise of any of the Institutional Investors Series A Warrants and agreed to reimburse the expenses of Aegis’s counsel up to $200,000.

The foregoing description
of the Institutional Investors Offering does not purport to be complete and is qualified in its entirety by reference to the Institutional
Offering Securities Purchase Agreement, Institutional Investors Pre-Funded Warrant, the Institutional Investor Series A Warrant, the Institutional
Investors Series B Warrant, the registration rights agreement relating to