Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 36

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 36
---
 as we continue to develop our current business model
and enhance our platform offerings. We also have indebtedness that is in default in excess of our current capital resources (see “Recent Developments” herein and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in our Form 10-Q for the quarter ended December 31, 2024).On June 18, 2024,
the Company entered into a securities purchase agreement with certain institutional accredited investors (the “June Aegis Securities
Purchase Agreement”) pursuant to which the Company issued and sold an aggregate of $3,600,000 in principal amount of notes (the
“June Notes”) and warrants to purchase up to an aggregate of 1,267,728 shares of Common Stock (which takes into account an
adjustment following the Company’s Share Combination Event that was effective on October 22, 2024, but not reflecting the Reverse
Stock Splits) (the “June Warrants”) for gross proceeds of $3,000,000.

Additionally, on November
7, 2024, the Company closed the November 7 Placement for gross proceeds of $9.15 million (including $2.5 million of which was provided
by one of the Company’s directors) (before deduction of fees to the placement agent and other offering expenses payable by the Company).
The Placement Agent in this Offering acted as exclusive placement agent in the November 7 Placement. At closing of the November 7 Placement,
the Company issued an aggregate of 2,137,850 units at a price of $4.28 per unit, each unit consisting of one share of Common Stock (or
pre-funded warrant in lieu thereof), two November Series A Warrants (as hereinafter defined) each to purchase one share of Common Stock
and a November Series B Warrant (as hereinafter defined) to purchase such number of shares of Common Stock, as determined on the November
Reset Date, which does not reflect the Second Reverse Split. As a result of the November 7 Placement, the Company received $3.62 million
of cash and cash equivalents after giving effect to offering fees and expenses, the payment of $3.8 million to the holders of the Company’s
June 2024 notes and a holdback of $0.2 million for indemnification of the Placement Agent as described in more detail herein.

Further, on December 24,
2024, the Company held the First Closing of this