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

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 28
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 Holder. After the deduction of fees and expenses payable
to the Placement Agent, and other offering expenses, the net proceeds to the Company was approximately $4.79 million. For more information
on the terms of the December Offering, see “Private Placements.”

On
January 31, 2025, the Company entered into the January/February Securities Purchase Agreement, in connection with the January/February
Offering and on February 4, 2025, the December Offering was closed, pursuant to which the Company sold to the January/February Selling
Holders, an aggregate of (i) 1,049,796 shares of Common Stock, (ii) Pre-Funded Warrants exercisable for an aggregate of 872,000 shares
of Common Stock, (iii) January/February Series A Warrants to purchase up to a maximum of 30,028,071 shares of Common Stock and January/February
Series B Warrants to purchase up to a maximum of 7,687,184 shares of Common Stock for an aggregate investment of $2,998,000; provided,
however, that the Company did not receive any cash proceeds with respect to the sale of securities with a subscription price of $1,560,000
of such amount, as those securities were issued in consideration for the Former Consultant Settlement. The January/February Selling Holders
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 the January/February Selling Holders to beneficially own more than 4.99%
or 9.99% of the shares of Common Stock outstanding, at the option of each January/February Selling Holder. After the deduction of fees
and expenses payable to the Placement Agent, and other offering expenses, the net proceeds to the Company was approximately $1.25 million.
For more information on the terms of the January/February Offering, see “Private Placements.”

On
February 18, 2025, we held a Special Meeting of Stockholders at which the following proposals were approved by our stockholders:

Approval of Nasdaq 20% Rule for November Offering

The
stockholders approved the issuance of 20% or more of our outstanding shares of Common Stock, in connection with the November Offering,
as required under Nasdaq Rule 5635(c) and upon obtaining such stockholder approval, the November Series A Warrants and