Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 23

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 23
---
 without any change in the par value per share. In addition, (i) a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of Common Stock, and (ii) the number of shares reserved for issuance pursuant to the Company’s equity incentive plans was also reduced proportionately. The Company’s authorized shares were not affected by the First Reverse Split. On March 21, 2025, the Company effected the Second Reverse Split in a ratio of one-for-twenty (1:20) of the Company’s issued and outstanding shares of Common Stock. As a result of the Second Reverse Split, every twenty (20) shares of the Company’s issued and outstanding shares of Common Stock was automatically converted into one share of Common Stock, without any change in the par value per share. In addition, (i) a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of Common Stock, and (ii) the number of shares reserved for issuance pursuant to the Company’s equity incentive plans was also reduced proportionately. The Company’s authorized shares were not affected by the Second Reverse Split. The November Offering On November 5, 2024, the Company entered into a Securities Purchase Agreement, in connection with a private placement offering, which was closed on November 7, 2024 (the “November Offering”), the November Offering was closed, pursuant to which the Company sold to certain investors (the “November Investors” an aggregate of 2,137,850 units at a price of $4.28 per unit for an aggregate investment of $9.15 million, $2.5 million of which was provided by one of the Company’s directors. Each unit consisted of 1/20 of one (1) share of Common Stock, after giving effect to the Second Reverse Stock Split, two Series A Warrants each to purchase 1/20 of one share of Common Stock, after giving effect to the Second Reverse Stock Split (the “November Series A Warrants”) and Series B Warrants to purchase such number of shares of Common Stock, as determined under the terms of the documents relating to the November Offering (the “November Series B Warrants”). The November Investors 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