Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 26

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 26
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incentive plans was also reduced proportionately. The Company’s authorized shares were not affected by the First Reverse Split.

On March 21, 2025, the Company
effected the Second Reverse Split in a ratio of one-for-twenty (1:20) of the Company’s issued and outstanding Common Stock. As a
result of the Second Reverse Split, every twenty (20) shares of the Company’s issued and outstanding Common Stock was automatically
converted into one share of Common Stock, without any change in the par value per share. In addition, (i) a proportionate adjustment was
made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants
to purchase shares of Common Stock, and (ii) the number of shares reserved for issuance pursuant to the Company’s equity incentive
plans was also reduced proportionately. The Company’s authorized shares were not affected by the Second Reverse Split.

On
November 5, 2024, the Company entered into a Securities Purchase Agreement, in connection with a private placement offering, which was
closed on November 7, 2024 (the “November Offering”), the November Offering was closed, pursuant to which the Company sold
to certain purchasers 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 the Company’s directors. Each unit consisted of one (1) share of Common Stock, two Series
A Warrants each to purchase one share of Common Stock (the “November Series A Warrants”) and a Series B Warrant to purchase
such number of shares of Common Stock, as determined under the terms of the documents relating to the November Offering (the “November
Series B Warrants”). The purchasers were provided with the option to have all or a portion of the shares of Common Stock issued
pursuant to Pre-Funded Warrants to the extent that the issuance of shares of Common Stock would cause any of such purchaser to beneficially
own more than 4.99% or 9.99% of the shares of Common Stock outstanding, at the option of each purchase (the “November Pre-Funded
Warrants”). After the deduction of fees and expenses payable to Aegis Capital Corp., the placement agent in connection with the
November Offering (the “Placement Agent”) and other offering expenses, including legal fees payable to the