Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 286

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 286
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3,000,000. The closing occurred on June 20, 2024.

Pursuant to the funding received on November 7, 2024, the Company has repaid the outstanding amount of the redeemable promissory notes (including interest accrued) and the difference between the amount paid and the net carrying amount of the redeemable promissory notes (post amortization of discount on issue and issuance cost until the date of payment) has been recognized as ‘Loss on extinguishment of the redeemable promissory note’ under other income/(expense) in the Condensed Consolidated Statements of Operations.

Terms of Warrants issued along with Redeemable Promissory Note

The warrants are each exercisable for one share of Common Stock at an exercise price of $ 2.832per share ($ 0.1416per share prior to Reverse Stock Split) and may be exercised at any time after six months and up to 5 years the date of issue.

During the period ended December 31, 2024, 930,522warrants have been exercised and are converted into Common Stock. As of December 31, 2024, 1,394,062warrants are outstanding (after considering antidilution effect).

These Warrants are classified as equity on the Condensed Consolidated Balance Sheets.

| 17 | Unsecured promissory note to 
 related parties              |

The following is a summary of the Company’s unsecured promissory note payable as of December 31, 2024 and March 31, 2024:

| (In                  
 USD)                 
 As at                |     | Outstanding 
 December    
 31,         
 2024        |   |     | March 
 31,   
 2024  |           |
|:---------------------|:----|:------------|:--|:----|:------|----------:|
| Unsecured promissory 
 note                 |     | $           | - |     | $     | 2,027,840 |
| Total                |     |             | - |     |       | 2,027,840 |

During the nine months ended December 2024, Ananda Small Business Trust has opted for conversion of the Unsecured promissory note into the common stock of the Company at the agreed conversion price of $ 300($ 3.00prior to Reverse Stock Split) per share. On October 2, 2024, 6,759shares ( 675