Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 222

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 222
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 for an aggregate purchase price of $5.1 million, and 16,732,152 shares issued upon conversion of $29.8 million principal and accrued interest of Convertible Promissory Notes (“Series D Notes”) at a conversion price of $1.7814 per share. In conjunction with these transactions, in December 2020, investors domiciled in India, including Mahindra & Mahindra Ltd. (“Mahindra”), a beneficial owner of more than 5% of Zoomcar’s outstanding stock and an affiliate of a person who was then serving on Zoomcar’s Board of Directors, purchased an aggregate of 149,986 shares of Series P2 Preferred Stock of Zoomcar India (“Series P2 Shares”) upon conversion of $3.9 million principal and accrued interest of Optional Convertible Debentures (“OCDs”); such Series P2 Shares are exchangeable for an aggregate of 2,769,758 Series D Shares upon the approval of the Reserve Bank of India (the “ RBI”). The following table summarizes purchases of these securities by related persons:

| Purchaser |     | Series D  
 Shares(1) |           |     | Aggregate 
 Purchase  
 Price(2)  |           |
|:----------|:----|:----------|----------:|:----|:----------|----------:|
| Ford      |     |           | 1,899,978 |     | $         | 3,384,622 |
| Mahindra  |     |           | 1,903,234 |     | $         | 3,390,422 |
| Sequoia   |     |           |   922,105 |     | $         | 1,742,629 |
| OurCrowd  |     |           | 1,777,985 |     | $         | 3,247,001 |

| (1) | Shares issued to Mahindra & Mahindra Ltd. Consist of shares issuable in exchange for Series P2 Shares |

| (2) | Includes aggregate conversion price of the Series D Notes or OCDs. |

Series E Financing In multiple closings during March 2021, April 2021 and May 2021, Zoomcar sold an aggregate of 29,999,516 units, each consisting of one share Series E Preferred Stock and a warrant to purchase one share of Common Stock, at a purchase price of $2.50 per unit, for an aggregate purchase price of $