Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 21

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 21
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 $0.806, and up to a maximum
of 9,214,508 shares of Common Stock issuable upon exercise of the Institutional Investors Series B Warrants, based on an Institutional
Offering Floor Price of $0.806, representing up to approximately 452% of the shares of our Common Stock outstanding on the Record Date.
Additionally, in the event that Reg D Stockholder Approval (defined in Proposal 2) is obtained with respect to Proposal 2 – The
Reg D Investors Bridge Warrants Proposal – the combined maximum number of shares of Common Stock that could be issued would represent
approximately 6,315% of the shares of our Common Stock outstanding on the Record Date.

Accordingly, the issuance
of such shares will result in significant dilution to our stockholders, and will substantially reduce our stockholders’ percentage
interest in the voting power of the Company. In addition, the sale or any resale of the shares of Common Stock underlying the Institutional
Investors Bridge Warrants and/or the Reg D Investors Bridge Warrants, if Proposal 2 is also approved by stockholders, could cause the
market price of our Common Stock to decline further.

Consequence of a Failure to Provide Stockholder Approval

If our stockholders do not
approve the Institutional Investors Bridge Warrants Proposal, the Institutional Investors Bridge Warrants will not be exercisable. However,
the Company will thereafter be required to hold additional meetings at least one time every sixty (60) days until the earlier of the date
stockholder approval is obtained or the Institutional Investors Bridge Warrants are no longer outstanding. Additionally, it may be difficult
for the Company to raise additional capital if stockholder approval is not obtained.

Vote Required

The approval of this proposal
requires the affirmative vote of the majority of shares cast on the proposal. Abstentions and broker non-votes will have no effect on
the outcome of this proposal. Notwithstanding the foregoing, to the extent a holder of Common Stock as of the Record Date is also a holder
of Institutional Investors Bridge Warrants, such holder cannot vote on this proposal.

Recommendation of the Board

THE BOARD UNANIMOUSLY RECOMMENDS THAT THE STOCKHOLDERS VOTE “FOR” THE INSTITUTIONAL INVESTORS BRIDGE WARRANTS PROPOSAL.

Because one of our directors
is a holder of Institutional Investors Bridge Warrants, he is deemed to have a financial and personal interest in the outcome of the vote
on this proposal, which may result in