Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 157

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 157
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 investors, for the second closing of the December
2024 Offering (the “Second Closing”). In connection with the second closing, the Company has issued 1,049,796 shares of common
stock of the Company, Pre-funded warrants issued to certain investors, at their option, exercisable for an aggregate of up to 872,000
shares of Common Stock, Series A Warrants to initially purchase up to an aggregate of 4,804,491 shares of Common Stock and Series B Warrants
to purchase initially no shares of Common Stock and then up to such number of shares of Common Stock, as determined on the Reset Date
for an aggregate investment of $3 million. The Securities were offered at a price of $1.56. However, out of the $ 3 million aggregate
investments, the Company did not receive any cash proceeds with respect to Securities with a subscription price of $1.56 million, as those
Securities were issued in consideration for the settlement of litigation with Randall Yanker. Hence, the Company raised gross proceeds
of $1.44 million and net proceeds of $1.25 million after deduction of offering expenses amounting to $0.2 million.

Our future capital requirements
will depend on many factors, including, but not limited to, our growth, our ability to attract and retain Hosts and Guests, and the scope
of future sales and marketing activities.

The Company expects to continue
to incur net losses and have significant cash outflows from operating activities for at least the next 12 months. Management has evaluated
the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that
based on multiple rounds of funding raised by the Company as detailed above under the section titled as “Private Placement of Equity
and Warrants”, while this financing resulted in the payment of certain outstanding indebtedness, the Company will still need to
raise additional capital imminently in order to have sufficient capital. The Company believes that current cash and cash equivalents will
allow the Company to continue operations through December 31, 2025, assuming that the Company makes no further payments on its currently
outstanding indebtedness and only pays current operating accruals. The Company was advised by its largest investor and director that he
would no longer commit to continuing his support to the Company in the event that any liquidity requirements arise in the future.

There can be no assurance
that the Company will be able to achieve its business plan, raise any additional capital