Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 236

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 236
---
 not approved by the Company’s Board of Directors, then the holder shall only be entitled to receive the same type or form of consideration (and in the same proportion), at the Black Scholes value of the unexercised portion of its November Series A Warrants, that is being offered and paid to the holders of the Company’s Common Stock in connection with the Fundamental Transaction. A holder of November Series A Warrants does not have the right to exercise any portion of the November Series A Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% of the number of shares of the Company’s Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the November Series A Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days following notice from the holder to the Company. The November Series A Warrants contain a standard cashless exercise provision permitting the holder to exercise the November Series A Warrants on a cashless basis if the market price of the Company’s Common Stock at the time of exercise is in excess of the exercise price of the November Series A Warrants and there is not an effective resale registration statement available for the resale of the shares of Common Stock underlying the November Series A Warrants. November Series B Warrants The November Series B Warrants have an exercise price of $0.002 per share and were not initially exercisable for any shares of Common Stock, but also contain a reset adjustment on the December Reset Date, depending on the price determined by the VWAP Formula, if it is less than the per unit purchase price on the Closing Date, then the maximum eligibility number of shares of Common Stock will be determined so that the sum of (a) the number of shares of Common Stock and/or shares of Common Stock underlying the November Pre-Funded Warrants issued on the Closing Date and (b) the number of shares of Common Stock issued pursuant to the November Series B Warrants on the November Reset Date would equal the number of shares of Common Stock and/or November Pre-Funded Warrants that would have been issued to certain of the November Investors on the Closing Date if the per unit purchase price had been the price determined pursuant to the VWAP Formula. The number of shares of Common Stock available for exercise under the November Series B Warrants have all been set at the “