Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 283

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 283
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 research views in respect of these securities or instruments
and may at any time hold, or recommend to clients that it acquires, long and/or short positions in these securities and instruments.

We entered into securities
purchase agreements on December 23, 2024 and January 31, 2025 with certain accredited investors (the “Investors”) relating
to a private placement offering in which we were offering shares of common stock, Series A Warrants and Series B Warrants for minimum
gross proceeds of $4 million and up to a maximum of $30 million, pursuant to a Confidential Private Placement Memorandum, dated December
3, 2024, as the same has been amended and supplemented from time to time (the “Offering”). On December 25, 2024, we held our
first closing of the Offering in which it raised gross proceeds of approximately $5.48 Million (the “First Closing”). On February
4, 2025, we held the second closing of the Offering in which it raised gross proceeds of approximately $1.44 million (the “Second
Closing”).

On November 5, 2024, we entered
into a securities purchase agreement with certain institutional accredited investors, in connection with a private placement offering,
pursuant to which we agreed to sell to such investors an aggregate of 2,137,850 units at a price of $4.28 per unit for an aggregate investment
of $9.15 million, $2.5 million of which was provided by one of our directors. The closing occurred on November 7, 2024 (the “Closing
Date”). On the Closing Date, we issued to the investors 1,302,850 shares of common stock and pre-funded warrants to purchase 835,000
shares of common stock. Purchasers of pre-funded warrants paid the per unit price of $4.28 less $0.0001 for each pre-funded warrant purchased.
We raised gross proceeds of $9.15 million and after the deduction of fees and expenses payable to the placement agent and other offering
expenses, including legal fees payable to the our and placement agent’s counsel, the net proceeds to us was $7.625 million. Proceeds
were also used to repay $3.804 million of outstanding indebtedness to debt investors pursuant to an offering in June 2024. Further, $200,000
of the proceeds were held back in a separate escrow account for the payment of any indemnification liabilities suffered by