Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 140

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 140
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 annum and include
customary events of default and covenants.

On July 31, 2025 , the Company further entered into two Securities
Purchase Agreements (each a “Purchase Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“DLL”),
and Boot Capital LLC, a Delaware limited liability company (“Boot”) (both investors collectively “July 2025 Noteholders”),
respectively pursuant to which the Company issued convertible Bridge Notes(“July Bridge Notes”) for a total principal amount
of $206,225 with an initial issue discount of $23,725. The net proceeds disbursed to the Company were $175,000 after deduction of legal
and due diligence fees of $7,500. Hence, the total debt issuance costs amounts to $7,500. The Bridge notes have a maturity date of May
31, 2025, and bear interest at an annual rate of 12%. The notes include scheduled monthly installment repayments and interest payments
starting August 30, 2025 and may be prepaid in part or full, by the Company at a discount to the outstanding balance. The notes are subject
to default interest rate of 22% per annum and include customary events of default.

On August 19, 2025, the Company
closed a Securities Purchase Agreement (“Labrys SPA”) with Labrys Fund II, L.P. (“Labrys”) in connection for purchase
of a promissory note convertible on default. Pursuant to the Labrys SPA, Labrys purchased a note for a principal amount $180,000 with
an original issue discount of $18,000 (“Labrys Note”)and net proceeds to the Company of $158,500 after adjusting issuance
cost of $3,500. The note is repayable in 12 months maturing on August 19, 2026 with interest accruing at 12 % per annum on the outstanding
principal. This note is subject to a default interest at a rate of 22% per annum and include customary events of default and covenants.

88

On August 24, 2025, the Company
closed a Securities Purchase Agreement (“AES SPA”) with AES Capital Management, LLC(“AES”) in connection with
purchase of convertible redeemable notes. Pursuant to the AES SPA, AES purchased 2 notes for an aggregate principal amount $112,500split
into $75,000and $37,500 respectively (“AES Notes”). The note