Company: ZCARW
Filing Date: 2025-04-04
Form Type: 8-K
Source: 0001213900-25-029037
Chunk: 1

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-04-04
Form: 8-K
Item: Item 1.01
Chunk 1
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Rights and Third Closing

As of March 31, 2025, the Company entered into a securities purchase
agreement, substantially in the same form as the December 2024 SPA and the January 2025 SPA (the “ Securities Purchase Agreement”)
with certain additional accredited investors (the “ Investors”), in connection with the third closing of the Offering
(the “ Third Closing”). The Company did not receive any cash proceeds in the Third Closing. The Securities (as hereinafter
defined) were issued to the Investors either (i) as consideration for waiving certain rights that such Investors may have had in connection
with a most favored nations provision included in the transaction documents for a prior financing of Zoomcar, Inc. or (ii) to settle outstanding
amounts owed by the Company to such Investors (see “ Settlement Agreements” below). Pursuant to the terms and conditions of
the Securities Purchase Agreement, the Company agreed to sell to such Investors an aggregate of $15,639,099 of Securities (as hereinafter
defined), consisting of 501,318 shares of common stock (the “Shares”) of the Company, par value $0.0001 per share (the
“ Common Stock”). Also issuable along with the Shares are (i) Series A Warrants to purchase up to an aggregate of 6,706,192
shares of Common Stock at an exercise price of $6.24 per share, which takes into account a “share combination event” adjustment
effective following the issuance of such warrants as a result of the Reverse Split (the “ Series A Warrants”) and (ii)
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 (as described below), subject to certain adjustments (the “ Series B Warrants” and collectively with
the Shares and the Series A Warrants, the “ Securities”). The Securities were offered at a price of $31.20. The Series
A Warrants are exercisable for a period of five years from the date that they are initially exercisable. Since the exercise price of the
Series A Warrants has been reduced to the floor price, there can be no further adjustment to the exercise price or the number of shares
available for exercise pursuant to the Series A Warrants. The Series B Warrants are exercisable at any time until they are exercised,
at an initial exercise price of $0.002. The maximum number