Company: ZCAR
Filing Date: 2025-12-16
Form Type: 8-K
Source: 0001213900-25-122278
Chunk: 0

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-12-16
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01. Entry into a Material Definitive Agreement.

On December 10, 2025, Zoomcar Holdings, Inc. (the
“ Company”) closed a Securities Purchase Agreement (the “ Purchase Agreement”) with FirstFire Global Opportunities
Fund, LLC (“ FirstFire”), in connection with a private placement offering of a convertible promissory note in the original
principal amount of $220,000.00 (the “ Note”) and pre-funded warrants to purchase 1,000,000 shares of the Company’s common
stock (the “ Pre-Funded Warrants”) as additional consideration.

Pursuant to the Purchase Agreement, FirstFire
purchased the Note with an original issue discount of $20,000.00 and net proceeds to the Company of $200,000.00.

The Note bears interest at 12% per annum and matures
12 months after issuance. The Note includes scheduled installment repayments and may be prepaid in full by the Company at a discount to
the outstanding balance (including any applicable conditions, timing restrictions and pricing mechanics set forth therein). The Note is
subject to a default penalty that increases the principal amount by 50% and includes customary events of default, covenants and remedies.
The Note permits full prepayment by the Company at a discount to the outstanding balance, subject to the terms set forth in the Note.

In the event of an uncured default under the Note
and expiry of 180 days from the closing date, FirstFire may elect to convert then-outstanding obligations (including principal, accrued
interest, default interest, and other fees) into shares of the Company’s common stock at a conversion price equal to 75% of the
lowest trading price of the Company’s common stock during the fifteen (15) trading day period ending on the latest complete trading
day prior to the applicable conversion date, representing a 25% discount to market price. Upon the occurrence and continuation of an event
of default, the outstanding balance of the Note is automatically increased to 150% of the sum of unpaid principal and accrued interest
(the “ Default Amount”).

The FirstFire Pre-Funded Warrants were issued
(i) as additional consideration for the purchase of the FirstFire Note and (ii) as full and final satisfaction, settlement, release and
discharge of any and all claims of FirstFire and its affiliates arising out of or relating to any prior agreements, instruments, notes,
warrants, securities or other investments by FirstFire in the Company