Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 28

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 28
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 we have limited cash resources, we will need to raise additional funds imminently to finance operations and as a result there is substantial doubt about our ability to continue as a going concern. We have a history of operating losses and expect to continue incurring operating losses in the foreseeable future 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, we entered into a securities purchase agreement with certain institutional accredited investors (the “June Aegis Securities Purchase Agreement”) pursuant to which we 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 and dilutive issuances that occurred in connection with the November Offering and the December Offering (the “June Warrants”) for gross proceeds of $3,000,000. Further, on November 7, 2024, the Company closed the November Offering for gross proceeds of $9.15 million (including $2.5 million of which was provided by one of the Company’s former directors) (before deduction of fees to the placement agent and other offering expenses payable by the Company). At closing of the November Offering, 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 each to purchase one share of Common Stock and a November Series B Warrant to purchase such number of shares of Common Stock, as determined on the November Reset Date. As a result of the November Offering, 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 in the November Offering. Further, on December 24, 2024, the Company held the December