Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 23

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 23
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 each be initially exercisable for one share of Common Stock at an initial exercise price equal
to one hundred twenty-five percent (125%) of the Nasdaq Minimum Price as of the date of the applicable Reg D Offering Securities Purchase
Agreement. The Reg D Investors Series A Warrantswill be exercisable at any time on or after
the later of (a) ten (10) trading days after the Reg D Offering Stockholder Approval (as defined hereafter) is obtained or (b) the earliest of (i) the date which is ten (10) consecutive trading days after the Reg D Investors Resale Registration Effective Date (as defined hereafter) or (ii) 12 months and ten trading days following the issuance date of the Reg D Investors Series A Warrants (the “ Reg D Offering Reset Date”). The exercise price and the number of shares available for exercise pursuant to the Reg D Investors Series A Warrants will be subject to adjustment, as provided below.

The Reg D Investors Series B Warrants will not initially be exercisable for any shares of Common Stock, but will contain a reset adjustment on the Reg D Offering Reset Date, depending on the price determined by the VWAP Formula provided in the Reg D Investors Series B Warrants, if it is less than the per share purchase price on the applicable closing date (each a “ Reg D Offering Closing Date”), then the maximum eligibility number of shares of Common Stock will be determined so that the sum of (a) the number of shares of Common Stock and/or shares of Common Stock underlying Reg D Investors Pre-Funded Warrants issued on each Reg D Offering Closing Date and (b) the number of shares of Common Stock issuable pursuant to the Reg D Investors Series B Warrants on the Reg D Offering Reset Date would equal the number of shares of Common Stock and/or Reg D Investors Pre-Funded Warrants that would have been issued to the Reg D Investors on each Reg D Offering Closing Date if the per share purchase price had been the price determined pursuant to the VWAP Formula. For the purposes of determining the reset price, the VWAP Formula will be subject to a minimum price equal to 20% of the applicable Nasdaq Minimum Price, which is the Reg D Offering Floor Price set after the Reg D Offering Stockholder Approval is obtained.

Pursuant to the terms of the
Reg D Offering Securities Purchase Agreement, the Company will be required to hold a special meeting of stockholders (which may also be
at the annual meeting of stockholders) at the earliest