Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 236

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 236
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 Series A Warrants) occurs, then the successor entity will succeed to, and be substituted for the Company, and may exercise every right and power that the Company may exercise and will assume all of the Company’s obligations under the November Series B Warrants with the same effect as if such successor entity had been named in such warrants itself. If holders of Company’s Common Stock are given a choice as to the securities, cash or property to be received in a Fundamental Transaction, then the holder shall be given the same choice as to the consideration it receives upon any exercise of such warrants following such Fundamental Transaction. A holder of November Series B Warrants does not have the right to exercise any portion of the November Series B Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% of the number of shares of the Company’s Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the November Series B Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days following notice from the holder to the Company. The November Series B Warrants contain a standard cashless exercise provision permitting the holder to exercise the November Series B Warrants on a cashless basis if the market price of the Company’s Common Stock at the time of exercise is in excess of the exercise price of the November Series B Warrants and there is not an effective resale registration statement available for the resale of the shares of Common Stock underlying the November Series B Warrants. 151 December Series A Warrants The December Series A Warrants were initially exercisable at an exercise price of $1.95 per share and the exercise price was adjusted to $1.56 per share on December 31, 2024, as a result of the adjustment in exercise of the November Series A Warrants. The December Series A Warrants also contain a reset adjustment occurring on the date that is the later of (a) ten trading days after Stockholder Approval or (b) the earliest of (i) the date which is ten consecutive trading days Resale Registration Effective Date or (ii) 12 months and ten trading days following the issuance date of the December Series A Warrants (the “Reset Date”). The reset occurring on the Reset Date would occur if the price of the Common Stock, at such time, determined by a volume weighted average formula