Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 262

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 262
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 Upon any adjustment pursuant to a Dilutive Issuance, the number of shares of Common
Stock exercisable under the December Series A Warrants would be increased so that the aggregate exercise price of the December Series
A Warrants would remain the same.

The December Series A Warrants
are also subject to customary adjustments for stock dividends, stock splits, distributions and the like. If a Fundamental Transaction
(as defined in the December Series A Warrants) occurs, then the successor entity will succeed to, and be substituted for the Company,
and may exercise every right and power that the Company may exercise and will assume all of the Company’s obligations under the
December Series A Warrants and December Series B Warrants with the same effect as if such successor entity had been named in such warrants
itself. If holders of Company’s Common Stock are given a choice as to the securities, cash or property to be received in a Fundamental
Transaction, then the holder shall be given the same choice as to the consideration it receives upon any exercise of such warrants following
such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the holder of December
Series A Warrants will have the right to require the Company or a successor entity to repurchase its warrants at the Black Scholes value
by paying the same type or form of consideration (and in the same proportion) that is being offered and paid to the holders of Common
Stock of the Company in connection with the Fundamental Transaction; provided, however, that if the Fundamental Transaction is not within
the Company’s control, including not approved by the Company’s Board of Directors, then the holder shall only be entitled
to receive the same type or form of consideration (and in the same proportion), at the Black Scholes value of the unexercised portion
of its December Series A Warrants, that is being offered and paid to the holders of the Company’s Common Stock in connection with
the Fundamental Transaction.

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A holder of December Series
A Warrants does not have the right to exercise any portion of the December Series A Warrants if the holder (together with its affiliates)
would beneficially own in excess of 4.99% of the number of shares of the Company’s Common Stock outstanding immediately after giving
effect to the exercise, as such percentage ownership is determined in accordance with the terms of the December Series A Warrants. However,
any holder may increase or decrease such percentage to any other percentage