Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 23

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 23
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 that the issuance of shares of Common Stock would cause any of the January/February Selling Holders to beneficially own more than 4.99% or 9.99% of the shares of Common Stock outstanding, at the option of each January/February Selling Holder. After the deduction of fees and expenses payable to the Placement Agent, and other offering expenses, the net proceeds to the Company was approximately $1.25 million.For more information on the terms of the January/February Offering, see “ Private Placements.” Certain Matters Approved by our Stockholders On February 18, 2025, we held a Special Meeting of Stockholders at which the following proposals were approved by our stockholders: Approval of Nasdaq 20% Rule for November Offering The stockholders approved the issuance of 20% or more of our outstanding shares of Common Stock, in connection with the November Offering, as required under Nasdaq Rule 5635(c) and upon obtaining such stockholder approval, the November Series A Warrants and the November Series B Warrants all became exercisable. Approval of Nasdaq 20% Rule for December Offering and January/February Offering The stockholders approved the issuance of 20% or more of our outstanding shares of Common Stock, in connection with a private placement offering, which terminates on March 31, 2021, and includes the December Offering and the January/February Offering, as required under Nasdaq Rule 5635(c) and upon obtaining such stockholder approval, the December Series A Warrants, December Series B Warrants, the January/February Series B A Warrants and the January/February Series B Warrants all became exercisable. 6

Increase in Shares of Common Stock Available for Issuance under the Zoomcar Holdings, Inc. 2023 Equity Incentive Plan (the “2032 Plan”) The stockholders approved a one-time increase in the number of shares of Common Stock available for issuance under the 2023 Plan, effective as of March 31, 2021, and equal to 15% of the number of shares of Common Stock issued and outstanding on that date. Approval of the Issuance of Shares of Common Stock to a Consultant The stockholders approved the issuance of 17,794 shares of Common Stock to Uri Levine, pursuant to the Strategic Advisory Agreement, representing $250,000 of the $500,000 of compensation payable to him thereunder, as required under Nasdaq Rule 5635(b). Approval of Possible Reverse Stock Split The stockholders