Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 275

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 275
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 equal the Reset Share Amount. Each warrant will be exercisable for one share of Common Stock at a nominal exercise price of $0.0001
per share. Reset Share Amount means the number of shares of Common Stock obtained by subtracting (a) the total number of shares and warrants
purchased by the holder from (b) the quotient determined by dividing (i) the aggregate purchase price paid by the holder (including all
exercise prices paid or payable in respect of pre-funded warrants) by (ii) the Reset Price. The Company also issued Series B Warrants to the placement agent equal to 10% of the shares of Common Stock that
will be issued to investors pursuant to their Series B Warrants at the Reset Date. These warrants have the same terms and conditions as
the Series B warrants that were issued at closing. The maximum number of Series B Warrants that may be issued to the placement agent for
the November 2024 offering is 921,451.

On December 24, 2024, the Company
had issued, in the December 2024 Offering, 8,680,443 Series A warrants, each exercisable for one share of Common Stock at an initial
exercise price of $1.95 per share. Each Series A warrant is exercisable on or after the initial exercise date as defined in the
agreement and until expiry of five years from such date. On the Reset Date, as defined in the agreement, the exercise price of the
Series A warrants shall be adjusted to equal the lower of the exercise price and the Reset Price. Upon such reset, the number of
warrant shares issuable upon exercise shall be increased such that aggregate exercise price remains unchanged. The Company has
issued 868,044 Series A warrants to the placement agent as a part of compensation for services rendered in connection with the
December 2024 offering, which has similar terms as those Series A warrants issued to investors but cannot be recalled.

On December 24, 2024, the Company had sold, in the December 2024 Offering,
Series B warrants, with a maximum eligibility at issue date equal to zero which shall be increased on the reset date as defined in the
agreement to equal the Reset Share Amount. Each warrant will be exercisable for one share of Common Stock at a nominal exercise price
of $0.0001 per share. Reset Share Amount means the number of shares of common stock obtained by subtracting (a) the total number of shares
and warrants