Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 356

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 356
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 through the end of December 2024, we cannot assure that this cash will be sufficient in the
longer run and we will be required to obtain a further infusion of cash funds to support our operations or address the indebtedness..

Further, on December 24,
2024, the Company held the First Closing for gross proceeds of $5,484,843 (including $50,000 of which was provided by the Company’s
Chief Executive Officer and $300,000 of which was provided by a consultant to the Company) (before deduction of fees to the placement
agent and other offering expenses payable by the Company). The Placement Agent in this offering acted as exclusive placement agent at
the First Closing. At the First Closing, the Company issued an aggregate of (i) 3,095,925 shares
of Common Stock (ii) Pre-Funded Warrants issued to certain of the investors, at their option, exercisable for an aggregate of up to 420,000
shares of Common Stock, to the extent that the issuance of shares of Common Stock would cause such Investors to beneficially own more
than 4.99% or 9.99% of the shares of Common Stock outstanding. Also issued along with the shares of Common Stock and/or the Pre-Funded
Warrants were (x) Series A Warrants to initially purchase up to an aggregate of 8,680,443 shares of Common Stock, subject to certain adjustments
and (y) Series B Warrants to initially purchase no shares of Common Stock, subject to certain adjustments as provided in the Series B
Warrants. As a result of the First Closing, the Company received $4,786,963 of cash and cash equivalents after giving effect to
offering fees and expenses. The Company believes that current cash and cash equivalents will allow the Company to continue operations
through December 2025, assuming that the Company makes no payments on its currently outstanding indebtedness and only pays current operating
accruals, however there can be no assurance that this will be the case. Even if our current cash position supports operations through
December 2025, we cannot assure that this cash will be sufficient in the longer run and we will be required to obtain a further infusion
of cash funds to support our operations or address the indebtedness, including through this offering. The Company will still need to seek
financing for the purpose of raising additional funds to be able to meet its obligations and so that there will no longer be substantial
d