Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 314

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 314
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 subordinated convertible promissory
notes, convertible promissory note and unsecured convertible notes and redeemable promissory notes.

Debentures and Other Borrowings from Financial Institutions

We have obtained loan facilities
from various financial institutions during earlier time periods, which remained outstanding as of September 30, 2025.

Issue of Common Stock

The Company’s shareholders
authorized, and the Board of Directors approved for a 1-for-100 Reverse Stock Split, which became effective on October 21, 2024.

The Company’s shareholders
authorized, and the Board of Directors approved for a 1-for-20 Reverse Stock Split, which became effective on March 21, 2025.

In December 2023, we raised $5,000,000 against issuance of 16,667 shares
(1,666,666 prior to Reverse Stock Split) to Mohan Ananda, the former Chairman of Board of Directors and our largest shareholder. 

In May 2024, we issued 125,120
shares (12,512,080 prior to Reverse Stock Split) to Atalaya Note holders to settle a part of the unsecured promissory note liability.

Issue of Unsecured Convertible Note

In December 2023, we issued an Unsecured Convertible
Note bearing a principal amount of $8,434,605.

Issue of Redeemable Promissory Note

On June 18, 2024, the Company
entered into a Securities Purchase Agreement with certain institutional accredited investors pursuant to which the Company issued and
sold an aggregate of $3,600,000 in principal amount of notes and warrants to purchase up to an aggregate of 1,267,728 shares (52,966,102
shares prior to Reverse Stock Split) of Company Common Stock for gross proceeds of $3,000,000. The closing occurred on June 20, 2024.

Private Placement of Equity

On November 5, 2024, the
Company entered into a private placement transaction for gross proceeds of $9.15 million (before deduction of fees to the placement agent
and other offering expenses payable by the Company). Aegis Capital Corp. acted as the Exclusive Placement Agent for the private placement.
The Company intends to use the net proceeds from the private placement to repay approximately $3.80 million of outstanding indebtedness
(including accrued interest).

On December 23, 2024, the
Company entered into a securities purchase agreement in connection with a