Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 102

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 102
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the “First Reset Date”), the exercise price of the Series A Warrants will be reset to a price equal to the lower
of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period beginning on the 5th trading
day after the date of issuance and ending on the First Reset Date , and (b) 40% of most recent Nasdaq Official Close Price preceding execution
of the Underwriting Agreement; and the number of shares issuable upon exercise will be increased such that the aggregate exercise price
of the Series A Warrants on the issuance date for the common shares underlying the Series A Warrants then outstanding shall remain unchanged.
Subsequently, at 4:01 p.m. Eastern time on the 15th trading day after the date of issuance (the “Second Reset Date”), the
exercise price of the Series A Warrants will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii)
the greater of (a) 80% of lowest VWAP during the period beginning on the 13th trading day after the date of issuance and ending on the
Second Reset Date, and (b) 20% of the most recent Nasdaq Official Close Price preceding execution of the Underwriting Agreement; and the
number of shares issuable upon exercise will be increased such that the aggregate exercise price of the Series A Warrants on the issuance
date for the common shares underlying the Series A Warrants then outstanding shall remain unchanged. Any reduction to the exercise price
of the Series A Warrants and resulting increase in the common shares underlying the Series A Warrants will be subject to a floor price.
The floor price will be equal to 20% of the most recent Nasdaq Official Closing Price of the common shares preceding execution of the
Underwriting Agreement. If all of the Series A Warrants offered to investors in this offering, including those subject to the underwriter’s
overallotment option for Series A Warrants, and the Underwriter’ Warrants are exercised on an alternate cashless basis at the floor
price of the Series A Warrants, an aggregate of shares
would be issued upon such alternate cashless exercise without payment to the Company of any additional cash.

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There is no public market for the Series A Warrants or Pre-Funded Warrants being offered by us in this offering.

There is no established public