Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 156

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 156
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secured promissory note liability.

Issue of Unsecured Convertible Note

In December 2023, we issued
an Unsecured Convertible Note bearing a principal amount of $8,434,605.

Issue of Redeemable Promissory Note

On June 18, 2024 , the Company
entered into a Securities Purchase Agreement with certain institutional accredited investors pursuant to which the Company issued and
sold an aggregate of $3,600,000 in principal amount of notes and warrants to purchase up to an aggregate of 1,267,728 shares (52,966,102
shares prior to Reverse Stock Split) of Company Common Stock for gross proceeds of $3,000,000. The closing occurred on June 20, 2024.
Out of the proceeds of November 7 Placement, this note has been repaid along with accrued interest.

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Private Placement of Equity and Warrants

On November 7, 2024, the
Company sold (i) 1,302,850 Common Units, each consisting of one share of common stock, two Series A Warrants and maximum number of Series
B Warrants as mentioned in the agreement, and (ii) 835,000 Pre-Funded Units, each consisting of one Pre-Funded Warrant, two Series A Warrants,
and maximum number of Series B Warrants as mentioned in the agreement, through the placement agent (collectively referred to “November
2024 Offering”) for a value of $9.15 million). The Company paid $3.80 million from these net proceeds towards the outstanding Redeemable
Promissory Notes. Further, there is a holdback of $0.2 million from the remaining proceeds for indemnification of the placement agent
in the financing.

On December 24, 2024, the
Company sold (i) 3,095,925 Common Units, each consisting of one share of common stock, Series A Warrants and maximum number of Series
B Warrants as mentioned in the agreement, and (ii) 835,000 Pre-Funded Units, each consisting of one Pre-Funded Warrant, Series A Warrants
and maximum number of Series B Warrants as mentioned in the agreement, through the placement agent (collectively referred to “December
2024 Offering”) for a value of $5.48 million.

On January 31, 2025, the
Company entered into a securities purchase agreement with certain additional accredited