Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 103

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 103
---
,437,936 (before deduction of fees to the Placement Agent and other offering
expenses payable by the Company). The Placement Agent in this Offering acted as exclusive placement agent at the Second Closing. At the
Second Closing, the Company issued an aggregate of (i) 1,049,796 shares of Common Stock, which does not reflect the Second Reverse Split
(ii) Pre-Funded Warrants issued to certain of the investors, at their option, exercisable for an aggregate of up to 872,000 shares of
Common Stock, which does not reflect the Second Reverse Split, to the extent that the issuance of shares of Common Stock would cause such
Investors to beneficially own more than 4.99% or 9.99% of the shares of Common Stock outstanding. Also issued along with the shares of
Common Stock and/or the Pre-Funded Warrants were (x) Series A Warrants to initially purchase up to an aggregate of 4,804,491 shares of
Common Stock, which does not reflect the Second Reverse Split, subject to certain adjustments and (y) Series B Warrants to initially purchase
no shares of Common Stock, subject to certain adjustments as provided in the Series B Warrants. As a result of the Second Closing, the
Company received $1,249,911 of cash and cash equivalents after giving effect to offering fees and expenses.

68

On March 31, 2025, the Company
further entered into a securities purchase agreement, substantially in the same form as the December 2024 SPA and the January 2025 SPA
with certain additional accredited investors in connection with the third closing of the Offering (the “Third Closing”). The
Company did not receive any cash proceeds in the Third Closing. The securities were issued to the investors either (i) as consideration
for waiving certain rights that such investors may have had in connection with a most favored nations provision included in the transaction
documents for a prior financing of Zoomcar, Inc. or (ii) to settle outstanding amounts owed by the Company to its Placement Agent and
the Legal Counsels. Pursuant to the terms and conditions of the Securities Purchase Agreement, the Company issued to such investors an
aggregate of $15,639,099 of securities consisting of 501,318 shares of common stock of the Company, par value $0.0001 per share (the Common
Stock). The Company along with the Common Stock issued (i) Series A Warrants to purchase up to