Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 46

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 46
---
 MFN Noteholder Rights, the right to participate in a third closing of our private placement offering, which terminates
on March 31, 2025 (the “March Offering”) by issuing to the Financing Investors, in the March Offering, shares of Common Stock
and/or Pre-Funded Warrants in the March Offering, along with Series A Warrants and Series B Warrants, with an aggregate subscription value
of approximately $9 million. Additionally, in June 2024 we issued warrants that contain an “alternative cashless exercise”
provision which gives the warrant holder the right to exchange the warrant on a one-for-one basis for shares of Common Stock at any time
that the warrant is exercisable without any cash payment and without regard to the then market price of the Company’s Common Stock
or exercise price of the warrant, many of which warrants have already been exercised pursuant to the “alternative cashless exercise”
provision. In addition, the June Warrants, the November Series A Warrants and the Series A Warrants issued at the First Closing and the
Second Closing include a provision that resets the warrant exercise price with a proportionate adjustment to the number of shares underlying
the warrant in the event of a reverse split of the Company’s Common Stock at any time between the issuance date and the three-year
anniversary of the issuance date (a “Share Combination Event”). In the event of a Share Combination Event, the exercise price
of the warrants will be reset to a price equal to the lesser of (i) the then exercise price and (ii) the lowest volume weighted
average price (VWAP) during the period commencing five trading days immediately after the date the Company effects a reverse stock split,
subject to a floor price of $56.64 for the June Warrants, $16.12 for the November Series A Warrants and $6.24 for the Series A Warrants
issued at in the December Offering and the January/February Offering (as may be adjusted in the future for any stock dividend, stock split,
stock combination, reclassification or similar transaction, the “Floor Price”). The June Warrants, the November Series A Warrants
and the Series A Warrants issued in the December Offering and January/February Offering are also subject to full ratchet anti-dilution
protection for any issuances of Company securities (other than certain excluded issuances) at a price or effective price that is less
than the then current exercise price of the warrants following the issuance date.