Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 499

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 499
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urther entered into a securities purchase agreement, substantially in the same form as the December 2024 SPA and the January 2025 SPA
with certain additional accredited investors in connection with the third closing of the Offering (the “Third Closing”). The
Company did not receive any cash proceeds in the Third Closing. The securities were issued to the investors either (i) as consideration
for waiving certain rights that such investors may have had in connection with a most favored nations provision included in the transaction
documents for a prior financing of Zoomcar, Inc. or (ii) to settle outstanding amounts owed by the Company to its Placement Agent and
the Legal Counsels. Pursuant to the terms and conditions of the Securities Purchase Agreement, the Company issued to such investors an
aggregate of $15,639,099 of securities consisting of 501,318 shares of common stock of the Company, par value $0.0001 per share (the Common
Stock). The Company along with the Common Stock issued (i) Series A Warrants to purchase up to an aggregate of 6,706,192 shares of Common
Stock at an exercise price of $6.24 per share, which takes into account a “share combination event” adjustment effective following
the issuance of such warrants as a result of the Reverse Split (the “Series A Warrants”) and (ii) Series B Warrants to purchase
initially no shares of Common Stock and then up to a maximum of 2,004,955 shares of Common Stock subject to certain adjustments, at an
initial exercise price of $0.002.

On June 24, 2025, the Company
issued a bridge note to certain investors totaling $402,000 at a discount of $42,000. The note is repayable in five monthly installments
beginning November 30, 2025, and maturing on March 31, 2026, with interest accruing at 12% per annum on the outstanding principal.
The Company received net proceeds of $350,000 after adjusting deduction of legal and due diligence fees of $10,000. Additionally,
$45,500 (i.e., 13% of net proceeds) is due to the placement agent relating to the issuance of these bridge notes which is directly attributable
to the loan raised, thereby bringing the total debt issuance costs to $55,500.

On July 31, 2025 , the Company
entered into Securities Purchase Agreements with certain institutional accredited investors pursuant