Company: ZCARW
Filing Date: 2025-01-21
Form Type: DEF 14A
Source: 0001213900-25-005022
Chunk: 31

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-21
Form: DEF 14A
Chunk 31
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 may be equal to 20% or more of the common stock, or 20% or more of the voting power,
outstanding immediately prior to the date of execution of the first Reg D Offering Stock Purchase Agreement. Since the number of shares
issuable upon exercise of the Reg D Investors Bridge Warrants may be in excess of 20% of the Shares of Common Stock outstanding immediately
prior to the date of execution of the first Reg D Offering Securities Purchase Agreement, and the provisions in the Reg D Investors Bridge
Warrants may cause even further dilution to stockholders of the Company following adjustments for Dilutive Issuances and Share Combination
Events, the Company requires the stockholder approval described in the proxy statement to issue 20% or more of our outstanding Common
Stock as calculated immediately prior to the date of execution of the first Reg D Offering Securities Purchase Agreement.

Effect of Proposal on Current Stockholders

If the Reg D Offering Stockholder Approval Proposal is adopted, and
assuming the sale of the maximum of $30 million in securities in the Reg D Offering and a Nasdaq Minimum Price of $1.56, which was the
Nasdaq Minimum Price on the Reg D Offering First Closing Date, an aggregate of up to 396,634,628 shares of Common Stock, consisting of
(i) the issuance up to a maximum of 19,230,770 shares of shares of Common Stock and/or shares of Common Stock issuable pursuant to the
exercise of Reg D Pre-Funded Warrants, (ii) the issuance of up to a maximum of 300,480,782 shares of Common Stock issuable upon exercise
of the Reg D Investors Series A Warrants, based on an Reg D Offering Floor Price of $0.312, assuming a Nasdaq Minimum Price of $1.56,
and up to a maximum of 76,923,076 shares of Common Stock issuable upon exercise of the Reg D Investors Series B Warrants, based on an
Reg D Offering Floor Price of $0.312, assuming a Nasdaq Minimum Price of $1.56, representing up to approximately 5,863% of the shares
of our Common Stock outstanding on the Record Date. Notwithstanding the foregoing, the Company’s Amended and Restated Certificate
of Incorporation reserves 250,000,000 shares of Common Stock for issuance and, therefore, the Company may not sell any securities in the
Reg D Offering to the extent that it could result in the issuance of more than an